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16 Dec 2013
Flash: USD/JPY could not close above 2013 high - Commerzbank
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that USD/JPY tested but did not close above the 103.74 2013 high.
Key Quotes
“Last weeks high was not confirmed by the RSI and this is now a triple failure of the daily RSI.”
“The market has eroded the 102.78 uptrend and we look for a slide back to the July 2013 high at 101.54.”
“The Elliott wave count on the daily is suggesting we allow for 100.90.”
Key Quotes
“Last weeks high was not confirmed by the RSI and this is now a triple failure of the daily RSI.”
“The market has eroded the 102.78 uptrend and we look for a slide back to the July 2013 high at 101.54.”
“The Elliott wave count on the daily is suggesting we allow for 100.90.”