2 Dec 2013
Flash: USD/JPY divergence points to small retracement - Commerzbank
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that USD/JPY continued to rally higher and has reached the 102.60 TD resistance.
Key Quotes
“We may see some consolidation near term and would allow for some weakness back to the 101.76 accelerated uptrend.
Key Quotes
“It continues to target the 103.74 2013 high, but the recent break up from a large triangle points to a longer term target of 108.86.”
“Minor support is seen around 101.76 the accelerated uptrend, and the 100.62 September high.”
“We will stay bullish while above the 99.56 November 19 low.”
Key Quotes
“We may see some consolidation near term and would allow for some weakness back to the 101.76 accelerated uptrend.
Key Quotes
“It continues to target the 103.74 2013 high, but the recent break up from a large triangle points to a longer term target of 108.86.”
“Minor support is seen around 101.76 the accelerated uptrend, and the 100.62 September high.”
“We will stay bullish while above the 99.56 November 19 low.”