23 Oct 2013
Flash: EUR/JPY is in new highs for the year
FXstreet.com (London) - Karen Jones Chief analysts at Commerzbank noted that EUR/JPY has reached new highs for the year and has reached a very long-term retracement at 135.33 (23.6% retracement of the move down from the 1979 high).
Key Quotes:
“We would allow for some possible profit taking here, we note the TD perfected set up on the daily chart)”.
“Support is found at the 134.25 accelerated uptrend and the May high at 133.83. Key support remains the 55 day ma and 4 month uptrend at 131.98/72”.
“Beyond this the market remains capable of gains to 136.71, the target from the triangle, which broke up from the end of last year, which we suspect will hold the topside. Beyond here, the June 2009 high at 139.26”.
Key Quotes:
“We would allow for some possible profit taking here, we note the TD perfected set up on the daily chart)”.
“Support is found at the 134.25 accelerated uptrend and the May high at 133.83. Key support remains the 55 day ma and 4 month uptrend at 131.98/72”.
“Beyond this the market remains capable of gains to 136.71, the target from the triangle, which broke up from the end of last year, which we suspect will hold the topside. Beyond here, the June 2009 high at 139.26”.