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5 Feb 2015
EUR/JPY resting up after huge losses
FXStreet (Guatemala) - EUR/JPY is currently 132.95 with a high of 133.12 and a low of 132.55 in Asia.
EUR/JPY has been consolidating the bearish spike and huge losses post the Greek news, but the wounds are open and the nervousness around the situation hinders the cross to the downside. Meanwhile, Karen Jones, chief analyst at Commerzbank explained that the bears are OK below the Fibonacci resistance at 134.80. She went on to say that the near term strength was viewed as corrective only.
Bets are placed to the downside, however should any bull get inclined to participate here, Jones suggested that above 134.85 will allow for a deeper retracement into the 136.56/138.57 band. "The corrective move higher should falter ahead of the 200 day moving average at 139.79."
EUR/JPY has been consolidating the bearish spike and huge losses post the Greek news, but the wounds are open and the nervousness around the situation hinders the cross to the downside. Meanwhile, Karen Jones, chief analyst at Commerzbank explained that the bears are OK below the Fibonacci resistance at 134.80. She went on to say that the near term strength was viewed as corrective only.
Bets are placed to the downside, however should any bull get inclined to participate here, Jones suggested that above 134.85 will allow for a deeper retracement into the 136.56/138.57 band. "The corrective move higher should falter ahead of the 200 day moving average at 139.79."