Forex Flash: EUR/JPY potential climb to 136.71 long term – Commerzbank

FXstreet.com (Barcelona) - The pair is consolidating the recent advance above the key 130.00 figure on Thursday, fuelled by the contrasting forces from the yen and the single currency, both gaining traction since last week’s announcments by BoJ’s Kuroda.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, comments that technical indicators would suggest a retracement prior to resume the upside. “We note the 13 count on the 240 minute chart and currently we would allow for a 128.40/127.10 retracement ahead of further topside gains. Our longer-term target is 136.71 (upside measurement from a wedge)”, concludes Jones.

Apr 11, 2013

Forex: EUR/HUF intensifies the downside

The Hungarian forint is appreciating against the euro on Thursday, after inflation figures in the domestic economy rose at an annually pace of 2.2% during March, easing from February’s +2.8%...

Fundamental Morning Wrap: JPY & USD - Key levels and record highs

On a slow morning for economic data, price action and institutional research, there has been a general focus on both JPY and USD. At a time when Yen is making multi year lows, and sits just below the psychological $100.00 level, in the US stocks and bonds are making record highs. The two nations have unprecedented easing programmes in place, and during the market lull many analysts are taking the opportunity to take a thorough look at the surrounding situations.