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25 Jul 2014
USD/JPY outlook remains neutral – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the neutral stance on the par.
Key Quotes
“USD/JPY is under pinned near term by its 101.10 55 week m.a and has shot higher in its range”.
“USD/JPY is facing resistance offered by the near term downtrend at 101.85, although key resistance remains the 2014 downtrend at 102.41”.
“Longer term the market is sidelined but underpinned by the 2013-2014 uptrend at 100.59 and the 55 week ma at 101.11. Our stance is neutral”.
Key Quotes
“USD/JPY is under pinned near term by its 101.10 55 week m.a and has shot higher in its range”.
“USD/JPY is facing resistance offered by the near term downtrend at 101.85, although key resistance remains the 2014 downtrend at 102.41”.
“Longer term the market is sidelined but underpinned by the 2013-2014 uptrend at 100.59 and the 55 week ma at 101.11. Our stance is neutral”.