FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, further downside in the cross could be limited. Key Quotes “EUR/JPY is showing signs of embryonic recovery just ahead of the base of the 5 month channel at 129.38 and the 78.6% retracement at 129.28”. “We also note the presence of a TD perfected set up on the daily chart and a 13 count. All 3 suggest the downside is limited - we would exit short positions”. For more information, read our latest forex news.