EUR/JPY making a technical correction? - CB

FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding EUR/JPY.

Key Quotes:

"EUR/JPY has sold off towards and is recovering just ahead of the 3 month uptrend at 134.23. Given the robust rebound recently from the 133.10/57 support (Fibo and May low), we suspect that the 137.10 200 day ma will come under further attack ."

"A break above here will introduce scope to the 140.70/141.06 recent highs, which is again expected to act as tough resistance for the market."