2 Jul 2014
EUR/JPY keeps the neutral-negative stance - Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the outlook on the cross remains neutral to negative so far.
Key Quotes
“EUR/JPY we can see a slight erosion of the 200 day ma at 139.09, but we have failed to clear this zone and for now we will maintain a neutral to negative bias”.
“The Elliott wave count is suggesting that this is the end of the corrective wave and we should see the market fail shortly and attention revert to the 137.70 recent low and the 136.25 February low”.
“The market will remain directly offered below 139.06/15”.
Key Quotes
“EUR/JPY we can see a slight erosion of the 200 day ma at 139.09, but we have failed to clear this zone and for now we will maintain a neutral to negative bias”.
“The Elliott wave count is suggesting that this is the end of the corrective wave and we should see the market fail shortly and attention revert to the 137.70 recent low and the 136.25 February low”.
“The market will remain directly offered below 139.06/15”.