22 Jul 2013
Flash: EUR/JPY’s focus shifts to the 133.82 May high.
FXstreet.com (London) - Karen Jones, Head of FICC Technical Analysis notes EUR/JPY continues to inch higher.
Key Quotes:
“It is bouncing off its 8 month uptrend at 129.31 and we can only assume while above here, scope remains to test the 133.82 May high”.
“Above here would see targets of 135.50 then 136.90 engage (TD resistance and the measurement higher of the wedge that completed at the end of last year)”.
“Below 129.31 would alleviate upside pressure for a slide back to the base of the cloud at 126.49”.
“Shorter term (1-3 weeks): Neutral to positive to the 133.82 May high. Medium term (1-3 months): Neutral.”
Key Quotes:
“It is bouncing off its 8 month uptrend at 129.31 and we can only assume while above here, scope remains to test the 133.82 May high”.
“Above here would see targets of 135.50 then 136.90 engage (TD resistance and the measurement higher of the wedge that completed at the end of last year)”.
“Below 129.31 would alleviate upside pressure for a slide back to the base of the cloud at 126.49”.
“Shorter term (1-3 weeks): Neutral to positive to the 133.82 May high. Medium term (1-3 months): Neutral.”