24 Feb 2016
USD/JPY remains vulnerable – Commerzbank
In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, spot remains under pressure and could re-visit recent troughs just below the 111.00 mark.
Key Quotes
“USD/JPY remains under pressure following last weeks failure ahead of the 115.07, 38.2% retracement of the move down from the February peak and we are viewing this as an interim high – we look for further weakness initially towards 110.98 recent low”.
“We target the 106.63/38.2% retracement of the move up from 2012 and the 105.40 2014 high longer term”.
Key Quotes
“USD/JPY remains under pressure following last weeks failure ahead of the 115.07, 38.2% retracement of the move down from the February peak and we are viewing this as an interim high – we look for further weakness initially towards 110.98 recent low”.
“We target the 106.63/38.2% retracement of the move up from 2012 and the 105.40 2014 high longer term”.