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USD/JPY remains vulnerable – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 24, 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, spot remains under pressure and could re-visit recent troughs just below the 111.00 mark.

    Key Quotes

    USD/JPY remains under pressure following last weeks failure ahead of the 115.07, 38.2% retracement of the move down from the February peak and we are viewing this as an interim high – we look for further weakness initially towards 110.98 recent low”.

    “We target the 106.63/38.2% retracement of the move up from 2012 and the 105.40 2014 high longer term”.
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