5 May 2014
EUR/JPY potential downside ahead – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the chance of EUR/JPY to slip to 140.85.
Key Quotes
“EUR/JPY failed again at the 142.47 end of April high and remains within its range. It remains range bound, but has started to erode the 141.37 55 day ma and we suspect will ease lower to the140.85 3 month support line”.
“Below 140.85 will trigger a slide to support at 140.02/139.96, the 50% retracement which guards the recent low 138.80”.
Key Quotes
“EUR/JPY failed again at the 142.47 end of April high and remains within its range. It remains range bound, but has started to erode the 141.37 55 day ma and we suspect will ease lower to the140.85 3 month support line”.
“Below 140.85 will trigger a slide to support at 140.02/139.96, the 50% retracement which guards the recent low 138.80”.