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27 May 2014
EUR/JPY rallies would struggle at 139.70/140.45 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the current rebound would be only corrective.
Key Quotes
“EUR/JPY is seeing a small rebound from the 200 day ma at 138.19– this is viewed as corrective only”.
“Rallies are indicated to terminate ahead of 139.70/140.45 and while capped by the 55 day ma at 141.00 it will remain directly offered”.
“Our initial downside target is the 200 day ma and recent low at 138.19/15 en route to the 136.25 2014 low”.
Key Quotes
“EUR/JPY is seeing a small rebound from the 200 day ma at 138.19– this is viewed as corrective only”.
“Rallies are indicated to terminate ahead of 139.70/140.45 and while capped by the 55 day ma at 141.00 it will remain directly offered”.
“Our initial downside target is the 200 day ma and recent low at 138.19/15 en route to the 136.25 2014 low”.