EUR/JPY keeps targeting the 200-day SMA at 130.21 – Commerzbank
|In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross remains poised to visit the 130.20 area, where lies the 200-day SMA.
Key Quotes
“EUR/JPY continues to recover from the 78.6% retracement at 126.66. The market is poised to challenge the 200 day ma at 130.21. A close above here is needed to restore upside pressure. The 200 day moving average guards 133.13/48, the highs since April. Above 133.48 lies the 134.27 1979-2018 downtrend line. Still further up sit the 137.51 2018 high and the 137.87 2008-2018 resistance line”.
“The 126.66/64 support is the last defence for the 124.91/62 May and August low. This guards the 124.08 December 2016 high and 122.40 June 2017 low”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.