USD/JPY still focused on 118.33 – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the target remains at the 118.33 level.

Key Quotes

“USD/JPY is side-lined but also under pressure in a 118.60- 121.76 range”.

“For now we will continue to target the 118.33 March low en route to the 2012-2015 116.87 uptrend”.

“We look for this to hold the downside and provoke longer term recovery”.