Occasional bullish attempts in EUR/JPY are seen meeting a tough hurdle in the 121.34/80 band, in opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Key Quotes “EUR/JPY is seeing a decent bounce from the 55 day ma, this is located at 119.47 currently. Rallies should find tougher resistance at 121.34/80. This is the location of the 200 day ma, the 50% Fibonacci retracement and the late July high. Currently the intraday Elliott wave counts are suggesting scope to retest this resistance, but if seen, it should again hold the topside”. “While capped here, attention remains on the 118.72 uptrend. This should hold the initial test, however longer term the risk has increased for a break lower. Failure here will target the 117.09 October low ahead of the 115.87 September low”. 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 NZD/USD Technical Analysis: Finds some support near 0.6400 handle, descending trend-line breakpoint FX Street 3 years Occasional bullish attempts in EUR/JPY are seen meeting a tough hurdle in the 121.34/80 band, in opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Key Quotes "EUR/JPY is seeing a decent bounce from the 55 day ma, this is located at 119.47 currently. Rallies should find tougher resistance at 121.34/80. This is the location of the 200 day ma, the 50% Fibonacci retracement and the late July high. Currently the intraday Elliott wave counts are suggesting scope to retest this resistance, but if seen, it should again hold the topside". "While capped here, attention remains on… 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.
