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17 Feb 2014
USD/JPY tough resistance around 102.42 – Commerzbank
FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, USD/JPY bullish attempts would face strong resistance in the region of 102.42.
Key Quotes
“We have some conflicting signals however, with a multitude of supports between 101 and 100, we look for this ‘zone’ to again hold”.
“This area is also reinforced by the the 200 day m.a. at 100.19 and the 55 week ma at 99.23”.
“Rallies will find stronger resistance at 102.42, 103.45 (20 day ma day ma and 29thJan high)”.
Key Quotes
“We have some conflicting signals however, with a multitude of supports between 101 and 100, we look for this ‘zone’ to again hold”.
“This area is also reinforced by the the 200 day m.a. at 100.19 and the 55 week ma at 99.23”.
“Rallies will find stronger resistance at 102.42, 103.45 (20 day ma day ma and 29thJan high)”.