EUR/JPY: a close above 132.43/47 is needed, is it on the cards though? - commerzbank
|Analysts at Commerzbank noted that EUR/JPY has tested and again held the 200-week ma at 129.55 and the current March low at 129.35, the decent rebound from here has alleviated immediate downside pressure.
Key Quotes:
"In order to negate it and restore upside pressure, a close above 132.43/47 is needed."
"Minor resistance above the 200 day moving average at 131.79 comes in at the 132.43/47 current March high and Fibonacci retracement. If bettered, the January low and February 21 highs at 133.05/09 as well as the 55 day moving average at 133.44 would be on the cards."
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