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EUR/JPY initially targets 127.71/128.16 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Axel Rudolph, Senior Technical Analyst at Commerzbank, sees the cross heading towards the 127.71/128.16 band.

    Key Quotes

    EUR/JPY is accelerating higher and targets the 127.71/128.16 resistance area. It consists of the 55 day moving average and the February 16 high”.

    “We look for further gains towards key resistance which is the 130.76 2015-16 downtrend line. Only above here would negate recent downside pressure”.

    “Only below the 122.08 current March low would see further downside targets engaged to the 120.00 region, then 115.30”.
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