5/10/2021 9:00:04 AM GMT | By FXStreet Insights Team
USD/JPY’s dive lower holds above the 108.17 uptrend. Subsequently, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, maintains a positive bias.
USD/JPY targets 110.97
“USD/JPY saw a fairly solid dive lower last week, but remained above the 2021 uptrend at 108.17 and while this holds we will continue to give the upside the benefit of the doubt.”
“The 109.96 April 9 high remains the barrier to the 110.97 March high and the 111.13/38 October 2018 low and mid-February 2019 high.”
“Our medium term target is 112.23/50, which represents the April 2019 high, the 2020 high and a long term Fibonacci retracement.”
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Palladium Price Analysis: XPD/USD to have a clear way to the 3487/3598 zone above 3053 – CommerzbankNEWS |
5/5/2021 10:34:30 AM GMT | By FXStreet Insights Team
Palladium (XPD/USD) has reached its target zone. Karen Jones, Team Head FICC Technical Analysis Research, has a number of targets in the 3028/3053 band and if the metals fails here, a retracement to the 20-day moving average at 2834 would be feasible.
TD resistance is not encountered until 3487.58
“Palladium reached new all-time highs at 3020. It is now in our target zone. We have no fewer than 3 point and figure targets in the 3038-3053 target zone. Failure here will shift attention back to the 20-day ma at 2834 which guards the 2758 mid-March high. Below here lies 2524/2491.10 February high.”
5/5/2021 9:43:18 AM GMT | By FXStreet Insights Team
Gold (XAU/USD) has been so far thwarted by the 55-day moving average at $1800.63. As this level holds the topside, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the yellow metal to experience some weakness in the short-term.
Long-term upside bias as golds holds the 2019-2021 support line at $1701
“Gold has tested and again failed at the 55-day ma at $1797.44. This has served to reinforce the resistance here and coupled with a now negative daily RSI and a negative Elliott wave count we would allow for some near term weakness.”
“For now, we will allow for slippage to the 20-day ma at $1752. There is scope for $1724/23, the 61.8% retracement. Provided it holds there we should retry the topside once again.
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