Forex Flash: USD/JPY remains a buy on dips – Commerzbank

The cross has managed to leave behind the key mark of 96.00 on Thursday and trade back around 96.10/15, as the US dollar is picking up pace again.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the RSI did not confirm the recent high yet, hinting at the likeliness of further retracement. “… however we are longer term bullish and the bull move in USD/JPY has been typified by fairly shallow corrections, so for now we will continue to buy the dip”, recommended the expert.