USD/JPY needs a close above 114.87/115.10 to confirm low – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, and in order to confirm recent lows, spot needs a close above 114.87/115.10.

Key Quotes

“USD/JPY has held the 110.98 recent low and extended its rebound”.

“Is this a low in place – possibly BUT to confirm it needs to close above 114.87/115.10 (recent high, Fibo and 20 day ma) as an absolute minimum and preferably regain the 116.15, the August low”.