EUR/JPY Focus Remains on 120.00 – Commerzbank

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”.