30 Jan 2014
Flash: USD/JPY near term risk is on the down side - Commerzbank
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that USD/JPY executed a ‘return to point of break down’ and sold off sharply.
Key Quotes
“This type of price action is viewed as negative . While capped by 103.70 the near term risk remains for losses to 101.00 and possibly 100.00, the 50% and the 61.8% retracement of the move up from October.”
“Rallies will find additional resistance at 103.48 (previous support line) and the 20 day ma at 103.84.”
Key Quotes
“This type of price action is viewed as negative . While capped by 103.70 the near term risk remains for losses to 101.00 and possibly 100.00, the 50% and the 61.8% retracement of the move up from October.”
“Rallies will find additional resistance at 103.48 (previous support line) and the 20 day ma at 103.84.”