EUR/JPY could visit 120.00 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could slip towards the 120.00 area.

Key Quotes

“EUR/JPY is stabilising just ahead of the 122.08 March low, we would allow for an overshoot to 120.00 but do not have much to suggest a move beyond that currently”.

“Near term the market has held just ahead of the 122.08 low and we are seeing a small rebound, this is indicated to terminate circa 124.60/125.30”.