USD/JPY bullish near term – Commerzbank

FXStreet (Edinburgh) - In the view of Senior Technical Analyst at Commerzbank Axel Rudolph, the outlook on the pair remains bullish in the short term.

Key Quotes

“USD/JPY’s Wednesday rally took it back to the 125.00 area, to slightly below the 125.07 June 2 high”.

“Once bettered, the June peak at 125.86 will be back in the picture, followed by the May 1997 high at 127.48”.

“We will retain our weekly bullish forecast while the 123.01 late July low underpins”.