The USD / JPY pair has reached the 200-day moving average at 105.60 and analysts of Commerzbank they have covered their long positions. The Next upside target is the 55-week moving average at 106.34.
“USD / JPY has hit the 200 day high at 105.60 and we have covered our long positions. The 55-week moving average is just above here at 106.34. The Longer term view is neutral to slightly positiveBut to take a more positive stance in the longer term, the market will need to regain its 55-week ma. “
“Above the 55 week ma, you would target the 200 week ma on 109.12“.
“The dips should find initial support at 104.75, the high of December 2, before reaching 104.05 (short-term uptrend). This zone protects the level 103.33, minimum of January 21 “.
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