EUR/JPY: corrective rebound expected – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility of a corrective rebound in the cross.

Key Quotes

“EUR/JPY last week sold off to the 126.17 recent low. This has held on a closing basis so far and we would allow for a small corrective rebound”.

“The intraday Elliott wave count is suggesting that the market will struggle on moves to 128.65”.