22 Jul 2015
EUR/JPY bulls looking for 137.10 200 DMA - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted that ="">EUR/JPY had sold off toward the 3 month uptrend at 134.35.
Key Quotes:
"Given the robust rebound recently from the 133.10/57 support (Fibo and May low), we suspect that the 137.10 200 day ma will come under further attack. A break above here will introduce scope to the 140.70/141.06 recent highs, which is again expected to act as tough resistance for the market.
Dips lower are indicated to find some support around 134.35 ahead of 133.57/10."
Key Quotes:
"Given the robust rebound recently from the 133.10/57 support (Fibo and May low), we suspect that the 137.10 200 day ma will come under further attack. A break above here will introduce scope to the 140.70/141.06 recent highs, which is again expected to act as tough resistance for the market.
Dips lower are indicated to find some support around 134.35 ahead of 133.57/10."