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13 Apr 2015
EUR/JPY: Key levels to the downside opened - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained conditions surrounding the EUR/JPY cross in a technical snapshot.
Key Quotes:
"EUR/JPY came under increasing downside pressure all last week and looks set to challenge the 126.91 March low. "
"This is regarded as the break down point to the June 2013 low at 124.24 en route to the 122.70/121.95 200 week moving average and 50% retracement."
"Overhead recent highs at 131.30 and 131.52 and the March 18 high at
131.67 and the February low at 132.00 offer formidable resistance and
while capped here the market remains offered. Intraday rallies are
indicated to terminate circa 128.15."
Key Quotes:
"EUR/JPY came under increasing downside pressure all last week and looks set to challenge the 126.91 March low. "
"This is regarded as the break down point to the June 2013 low at 124.24 en route to the 122.70/121.95 200 week moving average and 50% retracement."
"Overhead recent highs at 131.30 and 131.52 and the March 18 high at
131.67 and the February low at 132.00 offer formidable resistance and
while capped here the market remains offered. Intraday rallies are
indicated to terminate circa 128.15."