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USD/JPY stays short term bid while above 115.45 – Commerzbank

FXStreet (Barcelona) - According to Alex Rudolph, Analyst at Commerzbank, USD/JPY will remain short term bid while it trades above its November 17 low at 115.45 on a daily chart closing basis.

Key Quotes

“Above the current November high at 117.06 high we have very little resistance until the 117.95 October 2007 high.”

“In case of an unexpected drop below the 115.45 level being seen, the 113.86 10th November low will be in focus.”

“Key support is the 110.67 August 2008 high and the accelerated uptrend at 111.53. While it holds, pressure remains on the topside.”

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