26 Oct 2015
EUR/JPY caught in EUR/USD and USD/JPY - Commerzbank
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding EUR/JPY.
Meanwhile, check here for price action in bearish EUR/USD and bullish USD/JPY.
Key Quotes:
"Last week severed its 6 month uptrend, which should now act as initial resistance at 134.39. We look for further weakness to the 133.17 23rd September low and the 132.24 4th September low. Intraday rallies are likely to now struggle above 134.00/40.
Downtrend at 137.30
Below 132.24 will target 127.91 the 2013-2015 support line."
Meanwhile, check here for price action in bearish EUR/USD and bullish USD/JPY.
Key Quotes:
"Last week severed its 6 month uptrend, which should now act as initial resistance at 134.39. We look for further weakness to the 133.17 23rd September low and the 132.24 4th September low. Intraday rallies are likely to now struggle above 134.00/40.
Downtrend at 137.30
Below 132.24 will target 127.91 the 2013-2015 support line."