FXStreet (Edinburgh) – The offered tone will prevail on the pair while below the119.85/120.65 band, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“USD/JPY is seeing a small rebound/holding sideways very near term. Intraday rallies are indicated to falter circa 118.40”.
“The market will find resistance at 119.85/120.65 and while capped here it will remain offered”.
“Scope remains to extend losses towards the 116.47 support line and the 116.15 August low”.
(Market News Provided by FXstreet)