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EUR/JPY initial hurdle lines up at 125.38 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross faces initial resistance around 125.38.

    Key Quotes

    EUR/JPY has reversed just ahead of 121.90, the 50% retracement of the move from 2012”.

    “Initial resistance is the accelerated downtrend at 125.38 and the market will have to overcome this resistance to confirm near term reversal”.

    “This would allow for further gains towards key resistance is the 131.13/39 downtrend – only above here would negate current downside pressure”.
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