4 Sep 2013
Flash: USD/JPY downtrend and cloud resistance eroded - Commerzbank
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that USD/JPY has maintained upside pressure following the break of the 4 month resistance line.
Key Quotes
“We have seen a close above here and cloud resistance and this suggests further upside scope presently to the 101.54/60 July high and the Fibonacci retracement.”
“The intraday charts have turned more positive – dips lower should be contained by 99.10/98.85 and key short term support is the uptrend at 96.79.”
Key Quotes
“We have seen a close above here and cloud resistance and this suggests further upside scope presently to the 101.54/60 July high and the Fibonacci retracement.”
“The intraday charts have turned more positive – dips lower should be contained by 99.10/98.85 and key short term support is the uptrend at 96.79.”