18 Jun 2014
USD/JPY remains sidelined to negative – Commerzbank
FXStreet (Edinburgh) - Despite the recent recovery, the USD/JPY would keep the consolidative to bearish tone, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“USD/JPY recovered off the 200 day ma at 101.59 yesterday but not enough to negate our sideways to negative bias intact – moves are not dynamic and we suspect that we will just see a slow grind lower”.
“The 200 day ma at 101.59 guards the 100.75/78 key support – the 2014 low and 55 week ma”.
“Rallies will find initial resistance at 102.80 ahead of the 2014 resistance line at 102.99”.
Key Quotes
“USD/JPY recovered off the 200 day ma at 101.59 yesterday but not enough to negate our sideways to negative bias intact – moves are not dynamic and we suspect that we will just see a slow grind lower”.
“The 200 day ma at 101.59 guards the 100.75/78 key support – the 2014 low and 55 week ma”.
“Rallies will find initial resistance at 102.80 ahead of the 2014 resistance line at 102.99”.