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Forex pairs in this Article » USD/JPY (Barcelona) - (Athens) – Karen Jones Head Technical Analyst of Commerzbank feels that USD/JPY has eroded the 200 day ma at 97.35, and sold off to the 4 month support line at 96.95, this guards the current October low at 96.55 and the six month support line at 95.93.

Key Quotes

“The market has been contained in a large contracting range for the past 6 months and currently we have no real indication that the market is ready to break down through 95.93, but there is scope to test this level.”

“Rallies will find minor resistance at 98.48 ahead of 99.01/06 last weeks high.”
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