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11 Jun 2014
USD/JPY a climb to 103.00 is not ruled out – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the potential for a test of the 103.00 area.
Key Quotes
“USD/JPY has eased lower but remains under pinned (just) by the near term uptrend, which today is located at 102.25”.
“We should see an attempt to tackle resistance circa 103.00. Directly above here lies the 103.10 2014 resistance line and we suspect the up move will struggle here”.
“Below the uptrend, the 200 day ma at 101.53 guards the 100.75/77 key support – the 2014 low and 55 week ma”.
“Above 103.10 will target the 104.13 April 2014 high”.
Key Quotes
“USD/JPY has eased lower but remains under pinned (just) by the near term uptrend, which today is located at 102.25”.
“We should see an attempt to tackle resistance circa 103.00. Directly above here lies the 103.10 2014 resistance line and we suspect the up move will struggle here”.
“Below the uptrend, the 200 day ma at 101.53 guards the 100.75/77 key support – the 2014 low and 55 week ma”.
“Above 103.10 will target the 104.13 April 2014 high”.