EIR/JPY: 2013-2016 support line at 126.52 - Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that EUR/JPY has no change, the market is consolidating, risks remain on the downside.

    Key Quotes:

    "Near term rallies are indicated to struggle 129.25/130.75 and while below here, the market should remain under pressure. The market has a 2013-2016 support line at 126.52 it is bouncing from.

    Beyond a small rebound we look for losses to extend to 126.08, the 2015 low and the 121.87 50% retracement of the bull move from 2012.

    Above 130.52/75 lies the 131.26 55 day ma and the 4 month resistance line at 132.97."
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