USD/JPY Still Vulnerable – Commerzbank
In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the door remains open for further downside below 111.97.
“USD/JPY’s correction higher has failed at the top of a 6 week channel at 113.93 and so far eased back to its mid point, which today is located at 111.97”.
“Failure here should be enough to trigger losses to the 110.67 recent low and the 110.00 base of the channel”.
(Market News Provided by FXstreet)