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10 Jun 2014
EUR/JPY negative below 141.00 – Commerzbank
FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the EUR/JPY would remain offered while below the 141.00 level.
Key Quotes
“The near term move higher will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.87”.
“We look for it the resumption of its downmove. The move higher is viewed as a ‘return to point of break out’ from its previous uptrend”.
“Our bias remains negative and our initial downside target is the 136.25 2014 low”.
Key Quotes
“The near term move higher will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.87”.
“We look for it the resumption of its downmove. The move higher is viewed as a ‘return to point of break out’ from its previous uptrend”.
“Our bias remains negative and our initial downside target is the 136.25 2014 low”.