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9 Dec 2015
USD/JPY: bid above 118.86 wide - Commerzbank
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that USD/JPY needed to hold above the 122.20 support for an upside bias to remain.
Key Quotes:
"The intraday Elliott wave counts are pretty neutral. Resistance is offered by the 123.77 the recent high. Above here will target 125.00/28 (the August high).
The 3 month support line lies at 119.98. Key support remains 118.86 the 2012-2015 uptrend, while above here we are bullish."
Key Quotes:
"The intraday Elliott wave counts are pretty neutral. Resistance is offered by the 123.77 the recent high. Above here will target 125.00/28 (the August high).
The 3 month support line lies at 119.98. Key support remains 118.86 the 2012-2015 uptrend, while above here we are bullish."