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23 Apr 2014
EUR/JPY bearish below 142.20 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the downside sentiment would prevail while the EUR/JPY trades below 142.20.
Key Quotes
“EUR/JPY no change – the market remains bid within its range, intraday signals remain negative but essentially while rallies are capped by 142.20 a downside bias will persist”.
“The market is seeing a small rebound from its 140.02/139.96 50% retracement and recent low. Rebounds are indicated to terminate circa 141.83/142.20 for further losses to the 138.80 end of February low”.
Key Quotes
“EUR/JPY no change – the market remains bid within its range, intraday signals remain negative but essentially while rallies are capped by 142.20 a downside bias will persist”.
“The market is seeing a small rebound from its 140.02/139.96 50% retracement and recent low. Rebounds are indicated to terminate circa 141.83/142.20 for further losses to the 138.80 end of February low”.