4 Sep 2013
Flash: EUR/JPY remains within its converging range
FXstreet.com (London) - Karen Jones, chief analyst at Commerzbank explained that EUR remains in the limits of
129.12 and 132.25.
Key Quotes:
“The market is bid within these 2 limits and the rally will need to be contained by the four month resistance line at 132.25 for a neutral to negative bias to be maintained”.
“Above here will see the 132.74 July high challenged and potentially the 1.3382 May high”.
“Dips lower will find initial support offered by the 55 day ma at 130.145 ahead of the 129.20 support line”.
129.12 and 132.25.
Key Quotes:
“The market is bid within these 2 limits and the rally will need to be contained by the four month resistance line at 132.25 for a neutral to negative bias to be maintained”.
“Above here will see the 132.74 July high challenged and potentially the 1.3382 May high”.
“Dips lower will find initial support offered by the 55 day ma at 130.145 ahead of the 129.20 support line”.