EUR/JPY could re-visit 129.65 – Commerzbank

EUR/JPY could re-visit 129.65 – Commerzbank

1 April 2016, 14:39
Vasilii Apostolidi

Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair could re-test 129.65.

EUR/JPY has eroded the 50% retracement at 127.27”.

“The intraday Elliott wave count remains positive and the market has already reached the 128.16, the February 16 high and holds scope for key resistance which is the 129.65 2014-16 downtrend line”.

“Only a close above here would negate recent downside pressure”.

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