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23 Jun 2015
EUR/JPY: 200 day MA key support - CB
FXStreet (Guatemala) - Keeping in mind todays price action so far, Karen Jones, chief analyst at Commerzbank explained that EUR/JPY last week failed for the second time at the 140.70/141.06 resistances.
Key Quotes:
"This has shifted the focus to underlying support and in particular to the 2 month uptrend and 200 day ma at 137.80/32."
"A close below here will cause the chart picture to deteriorate. Failure here will trigger losses towards the 134.43 55 day ma."
"Above 141.06 will target the top of the channel at 144.12, where we look for failure – above here would target 144.71/145.68, the 78.6% retracement of the move down from December 2014 and the 2013 high."
Key Quotes:
"This has shifted the focus to underlying support and in particular to the 2 month uptrend and 200 day ma at 137.80/32."
"A close below here will cause the chart picture to deteriorate. Failure here will trigger losses towards the 134.43 55 day ma."
"Above 141.06 will target the top of the channel at 144.12, where we look for failure – above here would target 144.71/145.68, the 78.6% retracement of the move down from December 2014 and the 2013 high."