EUR/JPY a chance to visit 124.69 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could once again attempt a test of the 55-day sma currently near 124.70.

Key Quotes

“EUR/JPY is currently pretty much side lined, we look for a retest of the 55 day ma at 124.69”.

“The market last week tested the 55 day ma and backed off from here, we should again see the market stabilise circa 122.05/121.40 for another re-attempt on the topside”.