USD/JPY focused on 119.80 – Commerzbank

By FXStreet FXStreet (Edinburgh) – According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the area of 119.80 has become key for USD/JPY in the next sessions.

Key Quotes

“Intraday rallies will find resistance at 120.85/121.80 ahead of 123.77”.

“A weekly close below 119.80 will negate our bullish view and cause us to neutralise while a deeper sell off to possibly the 116.15 August 2015 low is seen (not favoured)”.
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Source:: FX Street