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7 Oct 2013
Flash: USD/JPY poised to encounter the 200 day ma at 96.69 - Commerzbank
FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank suggests that the USD/JPY remains under pressure and is on course for the 200 day ma at 96.69, the August low at 95.80 and the 95.61 5 month support line.
Key Quotes
“This is expected to hold the downside on the initial test(although we are less convinced that this will hold and provoke reversal).”
“The short term resistance line offers initial resistance at 98.32 ahead of the 100.62 September high then 101.54/60 July high and the Fibonacci retracement.”
Key Quotes
“This is expected to hold the downside on the initial test(although we are less convinced that this will hold and provoke reversal).”
“The short term resistance line offers initial resistance at 98.32 ahead of the 100.62 September high then 101.54/60 July high and the Fibonacci retracement.”