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USD/JPY bullish above 118.11 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, reiterated the bullish stance on the pair while above the 118.11 level.

    Key Quotes

    USD/JPY last week saw some minor near term weakness (this is expected to remain relatively shallow)”.

    “Dips lower should ideally terminate circa 122.08/121.70. The accelerated uptrend lies at 122.08 ahead of the 3 month support line at 119.17”.

    “Key support remains 118.11 the 2012-2015 uptrend, while above here we are bullish”.
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