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28 Sep 2015
EUR/JPY offered below 136.00 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, reiterated the offered tone in the cross while below the 136.00 handle.
Key Quotes
“EUR/JPY saw a small rebound but while capped by the 55 day moving average at 136.00 will remain offered. It remains under pressure and we look for further weakness today”.
“We still view the market as having topped and look for a slide back to the 132.24/131.80 recent low and 61.8% retracement. Initial support is the uptrend at 133.20”.
Key Quotes
“EUR/JPY saw a small rebound but while capped by the 55 day moving average at 136.00 will remain offered. It remains under pressure and we look for further weakness today”.
“We still view the market as having topped and look for a slide back to the 132.24/131.80 recent low and 61.8% retracement. Initial support is the uptrend at 133.20”.