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17 Dec 2015
EUR/JPY: looking for a correction? - Commerzbank
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that EUR/JPY continues to hold below the 4 month resistance line at 134.18.
Key Quotes:
"But looks to have stabilised circa 132.44, this should ideally hold for another attempt on the topside. There is scope for the top of the channel at 135.89.
Intraday dips are indicated to terminate circa 132.44. Below here, dips lower should find some support circa the 132.02 20 day ma. Below here will see the 129.67/28 zone retargeted (recent low and Fibo)."
Key Quotes:
"But looks to have stabilised circa 132.44, this should ideally hold for another attempt on the topside. There is scope for the top of the channel at 135.89.
Intraday dips are indicated to terminate circa 132.44. Below here, dips lower should find some support circa the 132.02 20 day ma. Below here will see the 129.67/28 zone retargeted (recent low and Fibo)."