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- USD/JPY set to slide below 109 for a test of the 108.73 recent low - Commerzbank
USD/JPY set to slide below 109 for a test of the 108.73 recent low - Commerzbank
FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, suggests that USD/JPY is set to remain under pressure below 110 and see a dip to the 108.73 recent low.
“USD/JPY is seeing a small rebound near-term, but as this has made no impact on resistance so far, we maintain a negative bias.”
“We look for a retest of the 109.07 and 108.73 recent lows.”
“A drop through 108.56 (end of May low) would engage the 107.48 April low.”
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