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5 Feb 2015
EUR/JPY: Intraday charts are negative - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that EUR/JPY has seen a slight erosion of its initial Fibonacci resistance at 134.80.
Key Quotes:
"Near term strength is viewed as corrective only, however the move above 134.85 does allow for a deeper retracement into the 136.56/138.57 band."
"The corrective move higher should falter ahead of the 200 day moving average at 139.76. We note however that the intraday charts are more negative."
Key Quotes:
"Near term strength is viewed as corrective only, however the move above 134.85 does allow for a deeper retracement into the 136.56/138.57 band."
"The corrective move higher should falter ahead of the 200 day moving average at 139.76. We note however that the intraday charts are more negative."