EUR/JPY declines appear limited – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    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”.
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