Commerzbank: USD/JPY may raise to 94.10.
2010-03-10 12:19 |
Commerzbank: USD/JPY may raise to 94.10.
Commerzbank AG observes the pair consolidated below the 55-day moving average, even though the market keeps holding sideways below. The analysts suppose that if dollar goes above 90.67 yen it is likely to go on rising to 200-day moving average of 91.90.
The long-term downtrend at 92.55 enlarging from July 2007 is important for American currency as it made the market lower for the significant part of 2,5 years. In the long term Commerzbank forecasts the end of this downtrend.
If the pair closes the week above 92.55, it would be lifted further upwards to 94.10 yen with the 23.6% Fibonacci retracement of the decline from 2007.
Chart. Weekly EUR/USD
Market news and analytics — FBS
www.fbs.comLast News
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