15 Apr 2014
USD/JPY potential for further downside – Commerzbank
FXStreet (Edinburgh) - The USD/JPY could face further weakness to the area below 101.00 the figure, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“The intraday charts are suggesting that rallies will struggle 102.05/102.35 and the short term risk remains for losses to the uptrend at 100.96, the 200 day ma at 100.80 and the 2014 low at 100.755”.
“Only above 102.50 alleviates downside pressure enough to refocus on the top of the channel at 104.15”.
Key Quotes
“The intraday charts are suggesting that rallies will struggle 102.05/102.35 and the short term risk remains for losses to the uptrend at 100.96, the 200 day ma at 100.80 and the 2014 low at 100.755”.
“Only above 102.50 alleviates downside pressure enough to refocus on the top of the channel at 104.15”.