Analysts: comments on USD/JPY
Commerzbank: USD/JPY remains capped at 99.10 (61.8% Fibonacci retracement) for now. Over the next few days the six month resistance line at 99.60 remains in play. We expect the 99.70/100.60 area to hold the upside. Potential dips should find support around 97.50 (late September low).
CMC Markets: The 99 round handle is a tough one to overcome, looking at how it’s been facing that resistance since the end of September.
JPMorgan: USD will face resistance in the 98.65/99.15 yen area. This area should be a tough hurdle for the short-term setup. Still, corrective retracements look like buying opportunities.
Chart. H4 USD/JPY