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12 Mar 2015
EUR/JPY: Constructive to the downside - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at FXStreet noted the technical conditions surrounding the EUR/JPY.
Key Quotes:
"EUR/JPY has sold off to the next support band offered by the 200 month ma and Fibonacci retracement at 128.11/52 (38.2% retracement of the move up from 2012) and is busy eroding this currently."
"This is regarded as the break down point to 124.94/June 2013 low en route to the 122.36/121.95 200 week ma and 50% retracement of the same move."
"We do have an interim levels at 126.60/47. Initial resistance lies at 130.16, the January low, 132.00, the 2nd February low ahead of 132.60a 3 month downtrend."
Key Quotes:
"EUR/JPY has sold off to the next support band offered by the 200 month ma and Fibonacci retracement at 128.11/52 (38.2% retracement of the move up from 2012) and is busy eroding this currently."
"This is regarded as the break down point to 124.94/June 2013 low en route to the 122.36/121.95 200 week ma and 50% retracement of the same move."
"We do have an interim levels at 126.60/47. Initial resistance lies at 130.16, the January low, 132.00, the 2nd February low ahead of 132.60a 3 month downtrend."