USD/JPY rebound capped around 114.16 – Commerzbank

USD/JPY rebound capped around 114.16 – Commerzbank

22 March 2016, 11:13
Vasilii Apostolidi
0
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Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair’s rebound could find resistance around 114.16.



USD/JPY’s daily RSI has not confirmed the new low at 110.67”.

“This suggests a loss of downside momentum and we are seeing a near term rebound, but is likely to meet initial resistance at 112.99 offered by the 20 day ma and remain capped by the short term resistance line at 114.16”.

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