USD/JPY: Capped by the 107.63 55-day ma – Commerzbank

USD/JPY has recently taken out its short-term downtrend and the near-term stance of analysts at Commerzbank is now neutral to more positive. 

Key quotes

“We look for a further near-term recovery, above the 55-day ma at 107.63 lies 108.27 the 200-day ma. Only above here will target 109.38 April high.”

“The April high at 109.38 guards the 111.71/112.23 February and March highs.”