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USD/JPY targets 106.63 in the longer run – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Karen Jones, Head of FICC Technical Analysis at Commerzbank, expects the pair to grind lower towards the 106.60 area in the long term.

    Key Quotes

    USD/JPY has held the 110.98 recent low, it has provoked a sharp rebound which has eroded the accelerated downtrend and for now we will exit our short positions”.

    “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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