FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained a longer term outlook for EUR/JPY. "Long term Longer term we still have a negative bias." "The market has a 2013-2016 support line at 126.56 that needs to give way on a closing basis. We also note the 126.08, 2015 low, and consider this to be the break down point to the 121.87 50% retracement of the bull move from 2012." In line with expectations, AUD struggled to move above the strong resistance indicated at 0.7140/45 last Friday but the subsequent sharp drop from the high of 0.7142 was unexpected. Despite the rapid down-move from 2012." For more information, read our latest forex news.