USD/JPY focus is now on 106.63 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Karen Jones, Head of FICC Technical Analysis at Commerzbank, has noted the relevance of the 106.63 level in light of the ongoing weakness in the pair.

    Key Quotes

    USD/JPY has eroded the base of the short term channel and the 2015-2016 channel and attention has reverted to the 106.63/38.2% retracement of the move up from 2012”.

    “In this vicinity we also find the 200 month ma at 105.87 and we suspect that the market will attempt to stabilise here”.
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