USD/JPY still targets 106.63 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, a visit to the 106.60 area remains on the cards.

    Key Quotes

    USD/JPY charted an inside day on Friday as it attempts to absorb some of last weeks sharp falls”.

    “It remains on course for 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”.

    “We note the TD perfected set up on the daily chart and the 13 count and would expect 106.63/105.87 to hold, we would tighten up stops on short positions”.
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