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2 Apr 2014
EUR/JPY potential upside to 143.66/79 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the EUR/JPY testing the area near 143.80 in the near term.
Key Quotes
“EUR/JPY continues to rebound off 139.96, and is poised to reach 143.66/79, the 78.6% retracement and the recent high and we would allow for initial failure there”.
“The market has eroded the 2014 downtrend and above 144.79 will target the 145.68 December high we have a 34 year resistance line coming in circa 146.54 above here”.
“Stronger support is to be found between the 61.8% Fibonacci retracement at 139.13 and the 138.80 late February low”.
Key Quotes
“EUR/JPY continues to rebound off 139.96, and is poised to reach 143.66/79, the 78.6% retracement and the recent high and we would allow for initial failure there”.
“The market has eroded the 2014 downtrend and above 144.79 will target the 145.68 December high we have a 34 year resistance line coming in circa 146.54 above here”.
“Stronger support is to be found between the 61.8% Fibonacci retracement at 139.13 and the 138.80 late February low”.