26 Mar 2015
EUR/JPY downside prevails
FXStreet (Guatemala) - EUR/JPY is currently trading 129.94 with a high of 131.14 and a low of 129.76.
EUR/JPY has started to extend the losses from the 131 handle and penetrates below 130.00. The recovery in USD/JPY was short lived back on to the 119 handle and supply is weighing on the cross while EUR/USD starts to give up the 1.10 psychological handle at 1.1050 cap.
Karen Jones, chief analyst at Commerzbank explained they expect to see losses towards the recent low at 126.91. "This level is regarded as the break down point to the June 2013 low at 124.24 en route to the 122.50/121.95 200 week moving average and 50% retracement."
EUR/JPY has started to extend the losses from the 131 handle and penetrates below 130.00. The recovery in USD/JPY was short lived back on to the 119 handle and supply is weighing on the cross while EUR/USD starts to give up the 1.10 psychological handle at 1.1050 cap.
Karen Jones, chief analyst at Commerzbank explained they expect to see losses towards the recent low at 126.91. "This level is regarded as the break down point to the June 2013 low at 124.24 en route to the 122.50/121.95 200 week moving average and 50% retracement."