Flash: USD/JPY bull trend intact, scope for 101.60 region – Commerzbank

FXstreet.com (Lisbon) - Karen Jones, an analyst at Commerzbank analyzes the recent bull trend of the USD/JPY as it penetrates past key figures.

Key quotes

The USD/JPY has shot higher to erode the 4-month resistance line, which was located at 99.19. A break above here signals a continuation of the bullish trend as of late.”

“We have seen a close above here and we would preferably like to also see a close above the 99.29 cloud resistance to confirm further upside scope presently to the 101.54/60 July high and the Fibonacci retracement.”