1. Hello Guest Click here to check FX Binary Point Financial Directory

USD/JPY door open for a test of 114.02 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a visit of the 114.00 neighbourhood.

    Key Quotes

    USD/JPY’s correction higher is poised to reach the top of a 6 week channel at 114.02 and we note the Elliott wave count is suggesting that the market will fail here”.

    “We will need a close above 114.88 (38.2% retracement) to confirm short term reversal. For now we would allow for initial failure here. Above here will target the 116.15 August 2015 low initially”.
    For more information, read our latest forex news.

Share This Page