In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the upside momentum in the cross could find resistance in the 128.65/129.35 band. Key Quotes “EUR/JPY is bouncing higher away from the 126.17 recent low”. “This has held on a closing basis so far and the market is correcting higher”. “The intraday Elliott wave count is suggesting that the market will struggle on moves to 128.65/129.35”. For more information, read our latest forex news.