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20 Sep 2013
Flash: USD/JPY has saw a strong rebound ahead of the 9741 support line. - Commerzbank
FXstreet.com (Athens)- Karen Jones, Head of Technical Analysis at Commerzbank, mentions that the market has held its cloud support at 97.64 and should remained under pinned here.
Key-quotes:
“The market has held its cloud support at 97.64 and should remained under pinned here.”
“Our initial upside target is the 100.62 September high then 101.54/60 July high and the Fibonacci retracement with a long term Fibonacci retracement offering a 105.48 resistance point above here.”
“Below 97.41 we would revert to neutral as the risk will increase of furtherslippage to the 200 day ma at 95.97.”
Key-quotes:
“The market has held its cloud support at 97.64 and should remained under pinned here.”
“Our initial upside target is the 100.62 September high then 101.54/60 July high and the Fibonacci retracement with a long term Fibonacci retracement offering a 105.48 resistance point above here.”
“Below 97.41 we would revert to neutral as the risk will increase of furtherslippage to the 200 day ma at 95.97.”