EUR/JPY: Attention has reverted to the 115.87 key September low – Commerzbank
|EUR/JPY’s outlook stays negative, in the opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.
Key quotes
"EUR/JPY has again recently failed ahead of the 121.38/47 October and February highs."
"It has eroded the 118.10 2nd March low and attention has reverted to the 115.87 key September low."
“The 61.8% retracement of the move from 2012 lies at 115.38 and only below here does the chart picture really start to deteriorate further and target the 109.30 2016 low.”
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