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USD/JPY bullish above 118.86 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 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 pair’s stance remains bullish above 118.86.

    Key Quotes

    USD/JPY remains bid, the market is seeing decent recovery off the 122.20 support. The intraday Elliott wave counts are more positive and currently imply a move to 123.77 the recent high. Above here will target 125.00/28 (the August high)”.

    “The 3 month support line lies at 119.83. Key support remains 118.86 the 2012-2015 uptrend, while above here we are bullish”.
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