FXStreet (Guatemala) – Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding EUR/JPY.
Key Quotes:
“EUR/JPY has seen repeated failure over the past few days at the 140.70/141.06 resistance – this has shifted the focus to underlying support and in particular to the 2 month uptrend and 200 day ma at 138.04/137.32.A close below this level will cause the chart picture to deteriorate.”
“Failure here will trigger losses towards the 134.57 55 day ma. Very near term we would allow for a small rally from here but look for failure ahead of 140.70/141.06.”
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