Forex: USD/JPY eases back to lows
Forex pairs in this Article »
USD/JPY
FXstreet.com (Barcelona) - A "risk off" sentiment is strengthening the Yen today, as it corrects from its extended rally that allowed a move to as high as 93.18 yesterday. Commerzbank analysts look at 93.32 as strong resistance, coupled with 93.96.
The USDJPY quotes at 92.17 (-0.22%) after being denied a return to 92.50 in early Asian trading. The pair had started off with a spike low at 91.98.
"It continues to hold over the 240 minute cloud (90.28/89.66) and the Elliot wave count on the intraday chart is implying we have one more leg to 93.70 prior to failure", wrote Commerzbank analyst Karen Jones.
The USDJPY quotes at 92.17 (-0.22%) after being denied a return to 92.50 in early Asian trading. The pair had started off with a spike low at 91.98.
"It continues to hold over the 240 minute cloud (90.28/89.66) and the Elliot wave count on the intraday chart is implying we have one more leg to 93.70 prior to failure", wrote Commerzbank analyst Karen Jones.
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