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USD/JPY hits 110.67 August 2008 high - Commerzbank

FXStreet (Łódź) - Karen Jones, analyst at Commerzbank points out that USD/JPY managed to attain the August 2008 high at 110.67 on Friday.

Key quotes

"Directly above here lies the 50% retracement of the entire move down from the 1998 peak at 111.47 and we would allow for some profit taking in this vicinity."

"Please note that longer term this is considered to be the break up point for 120.00."

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