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16 Apr 2014
EUR/JPY remains sidelined – Commerzbank
FXStreet (Edinburgh) - The EUR/JPY is extending the sideline trade, commented Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“EUR/JPY is essentially sidelined. The market is seeing a small rebound from its 140.02/139.96 50% retracement and recent low. This has held the initial test, however rebounds are indicated to terminate circa 141.56/142.20 for further losses to the 138.80 end of February low”.
“Below 138.80 will target the 136.25 4th February low. Above 142.20 would suggest another run up to the 143.47/79 recent highs, which are expected to hold the topside”.
Key Quotes
“EUR/JPY is essentially sidelined. The market is seeing a small rebound from its 140.02/139.96 50% retracement and recent low. This has held the initial test, however rebounds are indicated to terminate circa 141.56/142.20 for further losses to the 138.80 end of February low”.
“Below 138.80 will target the 136.25 4th February low. Above 142.20 would suggest another run up to the 143.47/79 recent highs, which are expected to hold the topside”.