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22 Feb 2016
EUR/JPY faces some consolidation near-term – Commerzbank
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could face some consolidation in the short-term.
Key Quotes
“EUR/JPY has some support at 124.94 the June 2013 low”.
“We suspect that the market may not maintain losses at this stage – we note the TD perfected set up on the daily chart and the base of the 8 month channel and would allow for some near term consolidation/near term correction higher”.
Key Quotes
“EUR/JPY has some support at 124.94 the June 2013 low”.
“We suspect that the market may not maintain losses at this stage – we note the TD perfected set up on the daily chart and the base of the 8 month channel and would allow for some near term consolidation/near term correction higher”.