26 Jun 2014
EUR/JPY still negative below 141.00 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, pair’s stance would remain bearish while trading below the 141.00 level.
Key Quotes
“EUR/JPY continues to push hard into the 200 day ma and the 2 month downtrend”.
“The downtrend has seen a small erosion by the 200 day ma at 139.00 is holding. We should see the market will now struggle”.
“Dips lower should find initial support at 138.50/60 ahead of 137.70 – this guards the 136.25 February low”.
“Rallies will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.47”.
Key Quotes
“EUR/JPY continues to push hard into the 200 day ma and the 2 month downtrend”.
“The downtrend has seen a small erosion by the 200 day ma at 139.00 is holding. We should see the market will now struggle”.
“Dips lower should find initial support at 138.50/60 ahead of 137.70 – this guards the 136.25 February low”.
“Rallies will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.47”.