USD/JPY: upside could struggle around 116.60/117.50 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 9, 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, rallies in the pair could find strong resistance in the 116.60/117.50 band.

    Key Quotes

    USD/JPY has eroded support circa 116.30/115.50 and sold off towards the 114.03/113.97 base of the weekly cloud and the 23.6% retracement of the move from 2012”.

    “This should hold the initial test however intraday rallies are indicated to struggle 116.60/117.50. This guards the 121.70 recent high”.
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