30 Jun 2014
USD/JPY now focused on the 100.75/99 area – Commerzbank
FXStreet (Edinburgh) - Recent price action in spot turned the attention to the 100.75/99 region, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“USD/JPY followed through on the downside on Friday having taken out the 200 day ma at 101.68. It remains offered while the topside remains capped by the 102.26 2 month resistance and is viewed as neutral to negative”.
“Attention has reverted to the 100.75/99 key support –the 2014 low and 55 week ma”.
“Rallies will find initial resistance at 102.23 (2 month resistance line) ahead of the 2014 resistance line at 102.82”.
Key Quotes
“USD/JPY followed through on the downside on Friday having taken out the 200 day ma at 101.68. It remains offered while the topside remains capped by the 102.26 2 month resistance and is viewed as neutral to negative”.
“Attention has reverted to the 100.75/99 key support –the 2014 low and 55 week ma”.
“Rallies will find initial resistance at 102.23 (2 month resistance line) ahead of the 2014 resistance line at 102.82”.