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14 Feb 2014
Flash: USD/JPY stalling at the 20 day ma - Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that USD/JPY has eased back from the 20 day ma, this is currently located at 102.55, and we would allow for some near term slippage.
Key Quotes
“We have some conflicting signals however, with a multitude of supports between 101 and 100, we look for this ‘zone’ to again hold. This area is also reinforced by the the 200 day m.a. at 100.19 and the 55 week ma at 99.08.”
“Intraday dips lower are indicated to terminate ahead of 101.54, the July high. Rallies will find stronger resistance at 102.55, 103.45 (20 day ma day ma and 29th Jan high). This guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo.”
Key Quotes
“We have some conflicting signals however, with a multitude of supports between 101 and 100, we look for this ‘zone’ to again hold. This area is also reinforced by the the 200 day m.a. at 100.19 and the 55 week ma at 99.08.”
“Intraday dips lower are indicated to terminate ahead of 101.54, the July high. Rallies will find stronger resistance at 102.55, 103.45 (20 day ma day ma and 29th Jan high). This guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo.”