Back
4 May 2015
USD/JPY: Back in bullish territory - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding USD/JPY.
Key Quotes:
"USD/JPY challenges the resistance line at 120.10. The topside should remain capped by it and contained on the downside by the 118.33 March low."
"Directly above the market lies the 14 year downtrend at 122.20, we suspect that any upside probes will remain limited."
"A close below the 118.33 March 26 low will be viewed as negative and trigger losses to the February low at 116.64.The risk remains for a downside break."
"A close above the 120.84 high charted on the 13th April would be needed to trigger a move to the December and March highs at 121.86/122.04 are to be retested."
Key Quotes:
"USD/JPY challenges the resistance line at 120.10. The topside should remain capped by it and contained on the downside by the 118.33 March low."
"Directly above the market lies the 14 year downtrend at 122.20, we suspect that any upside probes will remain limited."
"A close below the 118.33 March 26 low will be viewed as negative and trigger losses to the February low at 116.64.The risk remains for a downside break."
"A close above the 120.84 high charted on the 13th April would be needed to trigger a move to the December and March highs at 121.86/122.04 are to be retested."