USD/JPY now targets 110.00 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, now believes the pair could advance to the 110.00 region.

Key Quotes

“USD/JPY has maintained upside pressure, eroding 108.48 the 200 week ma, above here we target the 110.00 55 week ma then the 50% retracement at 112.43. We note a 13 count on the 240 minute chart and would tighten up stops on long positions, we also note the TD resistance at 109.30”.

“Dips lower should now find that the 107.49 July high offers nearby support. Below here lies the 106.49 200 day ma and the 105.55 May low”.

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