Currency Analyst since 2010

Commerzbank: bearish on EUR/JPY

Analysts at Commerzbank say that the prospects for EUR/JPY are still negative and will remain so as long as the pair’s trading below 139.18/20. The specialists point out that EUR/JPY came under pressure on Monday after failing to break above the 200-day MA, which is currently located at 139.13.

According to the bank, upward corrective wave ended at 139.27 on July 3. The specialists expect EUR/JPY to fall to 137.70 (June 16 low) and 136.25 (February low).


Chart. Daily EUR/JPY

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