Back
23 Oct 2015
EUR/JPY door open for a test of 133.17 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the recent decline has opened the door to a potential test of 133.17 and 132.24.
Key Quotes
“EUR/JPY failed just ahead of its 136.48 2 month resistance line and the market has sold off rapidly to the 134.33 6 month uptrend, which has now given way”.
“We look for further weakness to the 133.17 23rd September low and the 132.24 4th September low. Intraday rallies are likely to now struggle above 135.00”.
Key Quotes
“EUR/JPY failed just ahead of its 136.48 2 month resistance line and the market has sold off rapidly to the 134.33 6 month uptrend, which has now given way”.
“We look for further weakness to the 133.17 23rd September low and the 132.24 4th September low. Intraday rallies are likely to now struggle above 135.00”.