2 May 2014
EUR/JPY bid above 141.28 – Commerzbank
FXStreet (Edinburgh) - The cross would remain bid as long as it keeps the trade above 141.28, notes Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“EUR/JPY charted an inside day further neutralising the immediate outlook - it has not managed to gain a foothold above 142.20”.
“The market has proved far more resilient than expected. Interim support is offered by the support line at 141.28 and while above here the market is bid”.
“Below 141.28 will trigger a slide to support at 140.02/139.96, the 50% retracement which guards the recent low 138.80”.
Key Quotes
“EUR/JPY charted an inside day further neutralising the immediate outlook - it has not managed to gain a foothold above 142.20”.
“The market has proved far more resilient than expected. Interim support is offered by the support line at 141.28 and while above here the market is bid”.
“Below 141.28 will trigger a slide to support at 140.02/139.96, the 50% retracement which guards the recent low 138.80”.