EUR/JPY: the long term picture - Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    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."
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