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USD/JPY: chances of a visit to 123.33 – Commerzbank

FXStreet (Edinburgh) - Axel Rudolph, Senior Technical Analyst at Commerzbank, sees the possibility of the pair to reach 123.33 once 121.60/122.04 is cleared.

Key Quotes

USD/JPY continues to push hard into tough resistance at 121.60/122.04 offered by the October high, late August 2015 high, December 2014 high, March 2015 high and the 61.8% retracement”.

“This remains the key break up point to 123.33, the 78.6% retracement and 125.00/28 (the August high). It is solid resistance and it is likely to take several attempts to get through”.

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