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EUR/JPY could extend its downside – Commerzbank

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could see its downside accelerating towards 121.90.

    Key Quotes

    EUR/JPY has sold off and has started to erode the 125.80 low”.

    “We suspect that the market may not maintain losses at this stage – we note the TD perfected set up on the daily chart, none the less longer term the risks are building for a further break down and failure at 125.80 on a weekly closing basis will target 121.90, the 50% retracement of the move from 2012”.
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