18 Jul 2013
Flash: USD/JPY faltering - Commerzbank
FXstreet.com (London) - Commerzbank analyst, Karen Jones, notes USD/JPY continues to falter ahead of its 101.60 78.6% retracement and attention remains on the base of the cloud circa 98.15.
Key Quotes
“It remains sandwiched between these two levels, but we suspect that overall risk is on the downside”
“Should the base of the cloud be eroded, it will leave the market under pressure and likely to slide back to 96.75/95.40 en route to the 93.75 recent low”.
Key Quotes
“It remains sandwiched between these two levels, but we suspect that overall risk is on the downside”
“Should the base of the cloud be eroded, it will leave the market under pressure and likely to slide back to 96.75/95.40 en route to the 93.75 recent low”.