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Trader, analyst and instructor with a 6-year experience

Commerzbank: USD/JPY upside capped

Commerzbank strategists expect the 101.90/102.40 resistance area to limit the upside in USD/JPY. They believe the pair might re-visit the key support area at 100.75 this week (the 2014 low and 55-week MA).

In a longer-term they are suspicious the market has topped at 105.45. Loss of the psychological support at 100.00 would add weight to that view.

A recovery through the 102.36 mid May high is needed to alleviate the immediate downside pressure. 

usdjpydaily

Chart. Daily USD/JPY

 

JPY
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