May 13, 2013
Forex Flash: Completed the bullish triangle - Commerzbank
FXstreet.com (London) - Karen Jones Head of FICC Technical Analysis at Commerzbank and Axel Rudolph Senior Technical Analyst at the bank have noted that EUR/JPY last week eroded the 130.73/131.12 April peak and charted a close above here, which has completed the bullish triangle. Their slightly longer-term target remains 136.71, the upside measurement from a wedge, which completed back in November 2012. They are expecting dips to hold above the 128.95 support line, which guards 125.00, the low from mid-April. They have offered key support being123.20 and the seven-month uptrend.