FXStreet (Edinburgh) - The cross could face the possibility of a rebound from the 131.60 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “EUR/JPY continues to hold the 131.80/61.8% retracement of the move up from April, and just below here lies the 131.60 October low. These supports have now held 3 times and we suspect will provoke a rebound”. “The market has yet to overcome any resistance of note either and we have no strong bias either way. Below 131.60 targets 127.97, the August 2013 low”. For more information, read our latest forex news.