OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY: upside appears limited – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the upside in the cross as limited.

Key Quotes

EUR/JPY remains under pressure following its failure to maintain a break of the 55 week ma, which lies at 137.04”.

“It has also failed at the 78.6% retracement at 137.55 and we continue to view the upside as limited, but near term the market is finding some support at 135.00/134.80”.

“Only a close below 134.80 will alleviate immediate upside pressure for a slide back to 133.10 and then to the 132.24/131.80 recent low and 61.8% retracement”.

“Above 137.40 last weeks high, here is scope for the current advance to reach 138.22 the 3 month resistance line (not favoured)”.

EUR/USD bounces off 1.1150, back to 1.1200

After bottoming out in the mid-1.1100s, EUR/USD has gathered traction and is now hovering over the 1.1200 handle...
Read more Previous

AUD/JPY drops, hints at risk aversion?

The AUD/JPY pair fell to an intraday low of 85.18 levels as weaker commodity prices dragged AUD and equities lower, thereby triggering safe haven demand for the Yen.
Read more Next
Start livechat