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USD/JPY still targets 125.00/28 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the likeliness of the pair to test the 125.00/28 area once 123.75 is cleared.

    Key Quotes

    USD/JPY continues to recover off the accelerated uptrend, which today is located at 122.44”.

    “The market is well placed to resume its up move and above 123.75 targets 125.00/28 (the August high)”.

    “While this may provoke some profit taking, we do favour a break above here to
    127.90/93, which is the 61.8% retracement of the move down from the 1990 peak”.
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