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Oct 29, 2015
EUR/JPY upside could struggle near 132.65/133.40 – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, rallies in the cross are expected to find strong resistance in the 132.65/133.40 area.
Key Quotes
“EUR/JPY has sold off into 6 month lows and remains under pressure. The 132.24 4 th September low has been eroded to leave it on target for 127.91 the 2013-2015 support line”.
“Intraday rallies are indicated to now struggle 132.65/133.40 and should ideally remain capped by its 6 month uptrend, which should now act as initial resistance at 134.57”.
Key Quotes
“EUR/JPY has sold off into 6 month lows and remains under pressure. The 132.24 4 th September low has been eroded to leave it on target for 127.91 the 2013-2015 support line”.
“Intraday rallies are indicated to now struggle 132.65/133.40 and should ideally remain capped by its 6 month uptrend, which should now act as initial resistance at 134.57”.