1 May 2014
USD/JPY could recover to 104.30 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility of the US/JPY to climb to 104.30.
Key Quotes
“USD/JPY has stalled and is easing lower the range. We look for dips lower to remain well supported by the 101.36 support line and with this support reinforced by its 200 day ma at 100.95 and the 2014 low at 100.755, we favour recovery”.
“We should eventually see recovery to the top of the channel at 104.30. initial resistance is the top of the cloud on the daily chart at 102.84”
Key Quotes
“USD/JPY has stalled and is easing lower the range. We look for dips lower to remain well supported by the 101.36 support line and with this support reinforced by its 200 day ma at 100.95 and the 2014 low at 100.755, we favour recovery”.
“We should eventually see recovery to the top of the channel at 104.30. initial resistance is the top of the cloud on the daily chart at 102.84”