EUR/JPY faces some consolidation near-term – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could face some consolidation in the short-term.

    Key Quotes

    EUR/JPY has some support at 124.94 the June 2013 low”.

    “We suspect that the market may not maintain losses at this stage – we note the TD perfected set up on the daily chart and the base of the 8 month channel and would allow for some near term consolidation/near term correction higher”.
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