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USD/JPY well supported around 107.41/106.81 – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees decent support for the pair in the 107.41/106.81 band.

Key Quotes

USD/JPY has eroded its 107.54 2010-2014 resistance line and the 12 year downtrend at 108.55”.

“Near term dips should remain well supported circa 107.41/106.81 (16th Sept low) and contained by the 105.91 accelerated uptrend”.

“We will retain our immediately bullish view while USD/JPY trades above here”.

“Above 108.55 targets the 110.67 August 2008 high”.

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