11 Nov 2013
USD/JPY continues to bid in range - Commerzbank
FXstreet.com (Athens) – Karen Jones Head Technical Analyst of Commerzbank suggests that USD/JPY continues to see quite vicious swings intra day within its tight trading range.
Key Quotes
“The risk of a break out from this range has increased.”
“We look for the market to remain well supported by the 200 day ma at 97.78 and the 4 month support line at 97.30.”
“Above 99.78 will target the 100.62 11th September high en route to the 101.54/60 July high and 78.6% retracement.”
Key Quotes
“The risk of a break out from this range has increased.”
“We look for the market to remain well supported by the 200 day ma at 97.78 and the 4 month support line at 97.30.”
“Above 99.78 will target the 100.62 11th September high en route to the 101.54/60 July high and 78.6% retracement.”