USD/JPY targets 81.78/87 - Commerzbank
Commerzbank analysts were expecting, after consolidation to as low as 79.30, that the USDJPY would return to the 80.00 psychological level and surpass it in its way to 80.62 (June high). "Our target remains 81.78/87. Slightly longer term we would expect to see recovery to the 84.19 2012 high", wrote analyst Karen Jones, claiming that the market has completed a bullish falling wedge pattern longer term, now offering an upside measured target to 81.78/87 (April 20th high). "We would expect prices to remain underpinned by 78.44, the short term support line", Jones added.