USD/JPY remains sidelined – Commerzbank

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) - The USD/JPY would keep the sideline pattern so far, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.



Key Quotes



USD/JPY is sidelined in its range – we have a support line at 101.36 and directly below here lies the 101.07/100.75 55 week ma and this years low”.



“The market is now directly offered below last weeks high at 102.27, although key resistance remains the 2014 downtrend at102.65”.



“Longer term we suspect that the risk is growing for a downside break”.



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