14 May 2014
EUR/JPY bearish below 142.27 – Commerzbank
FXStreet (Edinburgh) - In the opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, the EUR/JPY’s stance would remain negative while below 142.47.
Key Quotes
“A fall through the 139.88 level will lead to the 2013-14 support line and the 61.8% Fibonacci retracement of the February-to-March advance at 139.18/13 being in focus”.
“Resistance is offered initially by the 38.2% Fibonacci retracement at 140.91 and also by the 55 day moving average at 141.39”.
“While the currency pair stays below its late April high at 142.47 we will stick to our negative outlook”.
Key Quotes
“A fall through the 139.88 level will lead to the 2013-14 support line and the 61.8% Fibonacci retracement of the February-to-March advance at 139.18/13 being in focus”.
“Resistance is offered initially by the 38.2% Fibonacci retracement at 140.91 and also by the 55 day moving average at 141.39”.
“While the currency pair stays below its late April high at 142.47 we will stick to our negative outlook”.