EUR/JPY Focus Remains on 120.00 – Commerzbank
Axel Rudolph, Senior Technical Analyst at Commerzbank, noted the cross still remains under pressure.
Key Quotes
“EUR/JPY
remains under pressure and attention remains on the 120.00 region but
do not have much to suggest a move beyond that currently”.
“Key
resistance remains the 129.27 2014-16 downtrend line, and while capped
here our outlook will remain negative. Initial resistance is the 125.43
base of the cloud”.
