25 Mar 2015
EUR/JPY: Bulls target 55 DMA 133.79 - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerbank gave a technical snap shot of the EUR/JPY.
Key Quotes:
"EUR/JPY once again tries to reach last week’s high at 131.67 and the February low at 132.00."
"As long as this resistance area caps on a daily chart closing basis, renewed downside pressure should soon be seen. We thus expect to see losses towards the recent low at 126.91.
This level is regarded as the break down point to the June 2013 low at 124.24 en route to the 122.50/121.95 200 week moving average and 50% retracement."
"A currently unexpected rise and daily chart close above the 132.00 February high would lead to the 55 day moving average at 133.79 being targeted next."
Key Quotes:
"EUR/JPY once again tries to reach last week’s high at 131.67 and the February low at 132.00."
"As long as this resistance area caps on a daily chart closing basis, renewed downside pressure should soon be seen. We thus expect to see losses towards the recent low at 126.91.
This level is regarded as the break down point to the June 2013 low at 124.24 en route to the 122.50/121.95 200 week moving average and 50% retracement."
"A currently unexpected rise and daily chart close above the 132.00 February high would lead to the 55 day moving average at 133.79 being targeted next."