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USD/JPY: Further downside expects below 111.97 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 31, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair could re-test 110.67 in case it breaks below 111.97.

    Key Quotes

    USD/JPY’s correction higher has failed at the top of a 6 week channel at 113.96 and so far eased back to its mid point, which today is located at 111.97”.

    “Failure here should be enough to trigger losses to the 110.67 recent low and the 110.00 base of the channel”.
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