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EUR/JPY could advance towards 128.16 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the door remains open for a test of 128.16.

Key Quotes

EUR/JPY’s spike lower yesterday was short lived and held the short term uptrend at 124.72 and the 20 day ma continues to hold on a closing basis, keeping our positive bias intact”.

“It continues to consolidate below the 50% retracement at 127.27. The intraday Elliott wave count remains positive and for now we will look for gains to the 128.16, the February 16 high”.

“We look for further gains towards key resistance which is the 129.65 2014-16 downtrend line. Only a close above here would negate recent downside pressure”.

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the door remains open for a test of 128.16…

(Market News Provided by FXstreet)

USD/JPY could visit the area of 114.13 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a recovery above the 114.00 mark.

Key Quotes

USD/JPY’s correction higher is gaining traction, it is contained in a 6 week channel and there is scope near term for a recovery to the top of that channel at 114.13”.

“Resistance ahead of here is offered by the 20 day ma at 113.02”.

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a recovery above the 114.00 mark…

(Market News Provided by FXstreet)