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USD/JPY focused on 114.38/58 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair needs to surpass the 114.38/58 band to confirm the break higher.

Key Quotes

USD/JPY continues to probe the top of the range at 114.38/58 (May and July highs were made and the 2015-2017 downtrend) we will need a close above here to confirm the break higher. However upside risks are growing longer term and while dips lower are contained by 112.03/111.74 (the 200 day ma and the 55 week ma) an upside bias will persist. A close above 114.58 will introduce scope to the 118.60/66 January high”.

“The 55 day ma guards the 109.55 mid-September low and in turn this support guards the 108.81/13 April and June lows as well as the September low at 107.32”.

EUR/USD drops to fresh 4-month lows near 1.1560

The increasing demand for the greenback is now forcing EUR/USD to drop to the area of multi-month lows in the 1.1565/60 band. EUR/USD in multi-day lo
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EUR/USD needs to regain 1.17 to alleviate downside pressure – UOB

According to FX Strategists at UOB Group, a breakout of the 1.1700 handle should signal the end of the bearish phase. Key Quotes “EUR dipped to a lo
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