Analysts at Commerzbank noted that EUR/JPY remains immediately bid following the recent erosion of its 55 day ma, the 2018 downtrend line and the 130.35 mid-June high and risks are on the topside. Key Quotes: “The DMI has a buy signal and the market has broken above the daily cloud for the first time since February all are positive signals and we look for the 200 day ma at 131.95 to be tested.” “We look for further gains to the 131.34/50 May highs and 55 week ma and the 133.48 April peak.” “Where are we wrong near term? The market stays bid above the 128.41 support line and only below here would negate the topside and re-target the 124.62 May low.” “Short Term Trend (1-3 weeks): Has reversed just ahead of support offered by the124.08 December 2016 high and the 50% retracement at 123.40. Long term trend (1-3 months): Approaching the 55 week ma at 131.50, which is now exposed. Targets the 137.51 2018 high.” 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 China Q2 GDP hits expectations, Industrial Production slides FX Street 5 years Analysts at Commerzbank noted that EUR/JPY remains immediately bid following the recent erosion of its 55 day ma, the 2018 downtrend line and the 130.35 mid-June high and risks are on the topside. Key Quotes: "The DMI has a buy signal and the market has broken above the daily cloud for the first time since February all are positive signals and we look for the 200 day ma at 131.95 to be tested." "We look for further gains to the 131.34/50 May highs and 55 week ma and the 133.48 April peak." "Where are we wrong near term? The… Regulated 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.
