Flash: USD/JPY nears the 200 day moving average at 97.19 - Commerzbank

FXstreet.com (Athens) – Axel Rudolph, Technical Analyst at Commerzbank mentions that USD/JPY is still slipping back down towards the 200 day moving average at 97.19 which guards the current October low at 96.55 and the seven month support line at 95.84.

Key Quotes

“The picture will remain immediately bearish while USD/JPY remains below last week’s high at 99.01. Today some more low volatility sideways trading seems to be on the cards.”