FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, remains negative on the cross in the longer run, targeting the 127.70 area. Key Quotes “EUR/JPY continues to rebound from 133.62 6 month support line but we still view the market as having topped in June”. “Below the support line at 133.62 we look for a slide back to the 132.24/131.80 recent low and 61.8% retracement”. “Slightly longer term we remain negative and we target the 2013-2015 support line at 127.72”. “Initial support is at 131.80, then at the 129.28 78.6% Fibonacci retracement of the April-to-June rise”. For more information, read our latest forex news.