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Forex Flash: USD/JPY could surpass 100.00 in the long-term – Commerzbank

FXstreet.com (Barcelona) - The positive momentum in the USD is pushing the cross to the area of 94.45/50, closer to session highs around 94.60 and trimming yesterday losses in sub 93.60 levels.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “USD/JPY is sitting just above the 4 month uptrend at 93.21. It is still expected to trade between this week’s 93.45 low and last Friday’s 96.28 high”

“Longer term we target 99.70 (50% retracement of the 2007 to 2011 drop) and then 101.27/67 (the 1999 and 2005 lows)”, Jones observed.

Forex Flash: USD long positioning structural in nature vs. episodic – ANZ

The USD long positioning across most surveys is currently very significant, perhaps even extreme. Certainly recent developments in Europe have encouraged a cautionary stance from investors. “Our sense, however, is that USD long positions are also more structural in nature, and in effect reflect a view that the dollar has made an important secular turn, and will strengthen against most currencies going forward.” notes the ANZ Research Team.
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Forex: USD/JPY rises above 94.50

The US dollar is currently trading higher against the Japanese yen and after rising around 50 pips from the 94.10 in the late American session, the USD/JPY has broken above the 94.40 resistance to reach fresh intra-day high at 94.60. Currently the pair is trading at 94.55.
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