Flash: USD/JPY looking for slide to 200 DMA – Commerzbank

FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank mentions that the USD/JPY remains under pressure and is on course for the 200 day ma at 96.58, the August low at 95.80 and the 95.56 5 month support line.

Key Quotes

“This is expected to hold the downside and provoke reversal.”

“The short term resistance line offers initial resistance at 98.46 ahead of the 100.62 September high then 101.54/60 July high and the Fibonacci retracement.”