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USD/JPY upside could struggle near 118.70 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees occasional bullish attempts to run out of legs near 118.70.

    Key Quotes

    USD/JPY has once again sold off to support circa 116.30/115.50”.

    “Intraday rallies are indicated to struggle 118.70. This guards the 121.70 recent high”.

    “Downside risks have increased, however we will need a close below 115.50 to break the market free from its recent range”.
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