USD/JPY strong resistance lies around 103.00 – Commerzbank

FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, bullish attempts in USD/JPY would struggle around the 103.00 handle.

Key Quotes

“USD/JPY has seen a minor breach of the 11 month support line, but this has not been sustained and the market is attempting to stabilise”.

“Directly below here lies its 200 day ma at 101.03 and together with the 2014 low at 100.755, we favour recovery from this vicinity”.

“Although we suspect that rallies will again struggle to regain 103.00”.