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USD/JPY: 122.20 support is critical - Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted that USD/JPY needs to hold above the 122.20 support for an upside bias to remain.

    Key Quotes:

    "The intraday Elliott wave counts are pretty neutral. Resistance is offered by the 123.77 the recent high. Above here will target 125.00/28 (the August high).

    Nearby support is 122.23, the mid November low and while above here the market remains immediately bid. The 3 month support line lies at 119.98. Key support remains 118.86 the 2012-2015 uptrend, while above here we are bullish."
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