USD/JPY supported at 101.39/100.97 – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees declines in USD/JPY to be well supported in the 101.39/100.97 area.

Key Quotes

“USD/JPY we look for dips lower to remain well supported by the 101.39 support line and with this support reinforced by its 200 day ma at 100.97 and the 2014 low at 100.755, we favour recovery”.

“We should eventually see recovery to 2014 downtrend at 103.73 initial resistance is the top of the cloud on the daily chart at 102.84.