EUR/JPY: Elliot waves counts conflicting - CB

FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank highlighted the Elliot wave counts in EUR/JPY.

Key Quotes:

"EUR/JPY’s correction higher may have already terminated at 136.70 – the intraday Elliott wave counts are more negative compared to the Elliott wave count on the daily, which is suggesting that we allow for a deeper retracement into the 138.50/140.60 band."

"Either way we look for the corrective move higher to falter around the 200 day moving average at 139.48 and remain longer term negatively biased."