FXStreet (Edinburgh) – According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a test of the 121.00/122.00 band.
Key Quotes
“USD/JPY has charted a key week reversal from a low of 115.97”.
“The rally has reached the 38.2% retracement at 118.88, where it has so far stalled”.
“Intraday dips are indicated to hold 117.65/95 and are suggesting scope for 121.00/122.00. Above 118.88 would allow for a deeper retracement to the 61.8% retracement of 120.68”.
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