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26 Mar 2013
Forex Flash: USD/JPY could surpass 100.00 in the long-term – Commerzbank
FXstreet.com (Barcelona) - The positive momentum in the USD is pushing the cross to the area of 94.45/50, closer to session highs around 94.60 and trimming yesterday losses in sub 93.60 levels.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “USD/JPY is sitting just above the 4 month uptrend at 93.21. It is still expected to trade between this week’s 93.45 low and last Friday’s 96.28 high”
“Longer term we target 99.70 (50% retracement of the 2007 to 2011 drop) and then 101.27/67 (the 1999 and 2005 lows)”, Jones observed.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “USD/JPY is sitting just above the 4 month uptrend at 93.21. It is still expected to trade between this week’s 93.45 low and last Friday’s 96.28 high”
“Longer term we target 99.70 (50% retracement of the 2007 to 2011 drop) and then 101.27/67 (the 1999 and 2005 lows)”, Jones observed.