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3 Mar 2014
Flash: USD/JPY still capped at 103.26 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, does not discard a test to levels sub-101.00 in USD/JPY.
Key Quotes
“At this stage with the topside still capped by the 55 day ma at 103.26 we remain unable to rule out a re-test of the 100.75 February low and the 100.19 200 day ma”.
“Resistance at 103.26 guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo”.
“We have a multitude of supports between 101 and 100, we look for this ‘zone’ to under pin. This area is also reinforced by the 55 week ma at99.56”.
Key Quotes
“At this stage with the topside still capped by the 55 day ma at 103.26 we remain unable to rule out a re-test of the 100.75 February low and the 100.19 200 day ma”.
“Resistance at 103.26 guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo”.
“We have a multitude of supports between 101 and 100, we look for this ‘zone’ to under pin. This area is also reinforced by the 55 week ma at99.56”.