Commerzbank on USD/JPY
Analysts at Commerzbank are bullish on USD/JPY in the short term as long as the pair closes the days above 115.45 (November 17 low).
“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, 113.86 (Nov. 10 low) will be in focus. Key support is 111.53 and 110.67 (August 2008 high). While it holds, pressure remains on the topside.”