18 Jun 2014
EUR/JPY still bearish below 141.00 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s stance remains negative while below 141.00.
Key Quotes
“EUR/JPY is seeing a small rebound from the 78.6% retracement at 137.86, it has recently failed to close below here 3 times”.
“Rallies will find initial resistance at 139.00/37. Key resistance remains 140.10. Below 137.70 we look for losses to the 136.25 February low”.
“Rallies will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.70. We look further losses and our initial downside target is the 136.25 2014 low”.
Key Quotes
“EUR/JPY is seeing a small rebound from the 78.6% retracement at 137.86, it has recently failed to close below here 3 times”.
“Rallies will find initial resistance at 139.00/37. Key resistance remains 140.10. Below 137.70 we look for losses to the 136.25 February low”.
“Rallies will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.70. We look further losses and our initial downside target is the 136.25 2014 low”.