The USD/JPY pair retains a negative bias while below the near-term downtrend, according to Commerzbank’s Axel Rudolph.
Key quotes
“The market has recently eroded the 50% retracement at 106.71 and attention has reverted to 104.46, the August low, and this guards the 101.80 March trough.”
“The market maintains a negative bias while capped by its near-term downtrend at 106.88.”
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