In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, and in order to confirm recent lows, spot needs a close above 114.87/115.10.
Key Quotes
“USD/JPY has held the 110.98 recent low and extended its rebound”.
“Is this a low in place – possibly BUT to confirm it needs to close above 114.87/115.10 (recent high, Fibo and 20 day ma) as an absolute minimum and preferably regain the 116.15, the August low”.
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