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USD/JPY sees decent support around 117.00 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could find strong support in the 117.00 neighbourhood.

    Key Quotes

    USD/JPY has reacted sharply lower from the 78.6% Fibonacci retracement at 121.96, the current lunge lower should attempt to stabilise circa 117.20/00 this guards 116.50/116.00”.

    “Intraday rallies are indicated to terminate 118.60/119.10. This guards the 121.70 recent high”.
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