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EUR/JPY further downside expected – Commerzbank

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis, the cross could come under further downside pressure.

Key Quotes

EUR/JPY remains under pressure we look for further weakness”.

“We still view the market as having topped and look for a slide back to the 132.24/131.80 recent low and 61.8% retracement. Initial support is the uptrend at 133.32”.

“Slightly longer term we remain negative and we target the 2013-2015 support line at 127.65”.

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