30 Sep 2015
EUR/JPY further downside expected – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis, the cross could come under further downside pressure.
Key Quotes
“EUR/JPY remains under pressure we look for further weakness”.
“We still view the market as having topped and look for a slide back to the 132.24/131.80 recent low and 61.8% retracement. Initial support is the uptrend at 133.32”.
“Slightly longer term we remain negative and we target the 2013-2015 support line at 127.65”.
Key Quotes
“EUR/JPY remains under pressure we look for further weakness”.
“We still view the market as having topped and look for a slide back to the 132.24/131.80 recent low and 61.8% retracement. Initial support is the uptrend at 133.32”.
“Slightly longer term we remain negative and we target the 2013-2015 support line at 127.65”.