11 Jul 2014
EUR/JPY offered sub-138.77/83 – Commerzbank
FXStreet (Edinburgh) - The outlook on the cross will remain bearish as long as trade is below the 138.77/83 area, commented Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“EUR/JPY’s slip through the 137.70 June low has the 136.25 February low in its sights”.
“The market will remain directly offered below 138.77/83, the July 9th high and three month resistance line”.
“Now pretty unlikely rallies will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.11”.
Key Quotes
“EUR/JPY’s slip through the 137.70 June low has the 136.25 February low in its sights”.
“The market will remain directly offered below 138.77/83, the July 9th high and three month resistance line”.
“Now pretty unlikely rallies will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.11”.