16 Oct 2013
Flash: USD/JPY still oscillates around the 50% retracement at 98.58 – Commerzbank
FXstreet.com (Athens) – Axel Rudolph, Head Technical Analyst at Commerzbank mentions that the USD/JPY continues to trade around the 50% retracement at 98.58 while the six month resistance line at 99.64 is being targeted.
Key Quotes
“While a challenge of the top of the recent range at 99.72/100.62 is plausible we look for this to hold.”
“Potential dips should find minor support around the 97.50 late September low. Further down the 200 day moving average at 97.06 guards the seven month support line at 95.77.”
Key Quotes
“While a challenge of the top of the recent range at 99.72/100.62 is plausible we look for this to hold.”
“Potential dips should find minor support around the 97.50 late September low. Further down the 200 day moving average at 97.06 guards the seven month support line at 95.77.”