In USD/JPY, Commerzbank notes that the pair is sidelined in its range.
“The market is now directly offered below last weeks high at 102.27, although key resistance remains the 2014 downtrend at 102.65,” CB ads.
“Longer term we suspect that the risk is growing for a downside break. Directly below lies the 2013-2014 uptrend at 100.35 . We suspect that should 100.00 give way then the market would really start to disintegrate,” CB projects.
CB is currently flat on the pair.
