13 Feb 2015
EUR/JPY: Consolidating the minor recovery
FXStreet (Guatemala) - EUR/JPY is currently trading at 135.53 with a high of 136.03 and a low of 135.21.
EUR/JPY is consolidated within a cent range developed yesterday on 135.20 support. Technically, the market has eroded its 20 day ma at 134.61 and this together with the near term uptrend at 134.37 should now act as support, as explained by Karen Jones, chief analyst at Commerzbank.
"Below 134.35 should be enough to weaken the chart for losses to 132.00 then 130.16/00 the recent low. Slightly longer term we continue to look for losses to 128.52/34, the 200 month moving average and 38.2% retracement of the move up from 2012."
EUR/JPY is consolidated within a cent range developed yesterday on 135.20 support. Technically, the market has eroded its 20 day ma at 134.61 and this together with the near term uptrend at 134.37 should now act as support, as explained by Karen Jones, chief analyst at Commerzbank.
"Below 134.35 should be enough to weaken the chart for losses to 132.00 then 130.16/00 the recent low. Slightly longer term we continue to look for losses to 128.52/34, the 200 month moving average and 38.2% retracement of the move up from 2012."