19 Nov 2013
Flash: USD/JPY still targets the September peak at 100.62 - Commerzbank
FXstreet.com (Barcelona) - Axel Rudolph, Senior Technical Analyst at Commerzbank notes that on Monday USD/JPY came close to the September high at 100.62 by rising to 100.43.
Key Quotes
“If both were to be exceeded, the 101.54/60 July high and 78.6% Fibonacci retracement of the May-to-June decline would be in focus.
“Minor support is seen around the 99.80 November 12 high with more support coming in between the 99.10 November 12 low and the 99.01 October peak.”
“We will remain bullish while the currency pair stays above the 55 day moving average at 98.62.
Key Quotes
“If both were to be exceeded, the 101.54/60 July high and 78.6% Fibonacci retracement of the May-to-June decline would be in focus.
“Minor support is seen around the 99.80 November 12 high with more support coming in between the 99.10 November 12 low and the 99.01 October peak.”
“We will remain bullish while the currency pair stays above the 55 day moving average at 98.62.