In the view of Karen Jones, Analyst at Commerzbank, the EUR/JPY cross remains exposed to further downside risks. Key Quotes: “EUR/JPY has once again balked ahead of the 55-day ma at 129.52 and the 2018 downtrend line at 129.81. The risk remains that we will see failure and a slide back to 125.75, which is the last defense for the 124.62 recent low. Below 124.62 there is scope for a slide to the 124.08 December 2016 high. Between here and the 50% retracement at 123.40 we expect to see some profit-taking. Below here would target 120.10/00. Near-term should a break above the downtrend be seen, we would be unable to rule out the scope for further gains to the 131.34/48 May highs and possibly even for the 133.48 April peak.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Technical Analysis: Euro clawing for 1.17 ahead of Thursday’s FOMC minutes FX Street 4 years In the view of Karen Jones, Analyst at Commerzbank, the EUR/JPY cross remains exposed to further downside risks. Key Quotes: "EUR/JPY has once again balked ahead of the 55-day ma at 129.52 and the 2018 downtrend line at 129.81. The risk remains that we will see failure and a slide back to 125.75, which is the last defense for the 124.62 recent low. Below 124.62 there is scope for a slide to the 124.08 December 2016 high. Between here and the 50% retracement at 123.40 we expect to see some profit-taking. Below here would target 120.10/00. Near-term should a break… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
