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EUR/JPY: capped at 200 DMA; under pressure - Commerzbank

FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that EUR/JPY remains under pressure they look for further weakness.

Key Quotes:

"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. Initial support is at 131.80, then at the 129.28 78.6% Fibonacci retracement of the April-to-June rise."

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