EUR/JPY: Buy the dips circa 134.50 - Commerzbank

Karen Jones, Analyst at Commerzbank, provides key technical levels for trading EUR/JPY today.

Key Quotes:

“EUR/JPY as highlighted in yesterday’s commentary, the 13 count on the daily chart signaled a near-term pullback and this is currently being seen. We have exited our long positions for now.“

“Dips lower should find some support at circa 134.50 (previous highs), however, the intraday Elliott wave counts are suggesting a retracement to 133.40. While above the 2017-18 support line at 132.96 an upside bias persists.”