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25 Feb 2015
EUR/JPY: An ABC correction at play - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that EUR/JPY is viewed as nothing more than an ‘a-b-c’ correction.
Key Quotes:
"This leaves our longer term negative bias intact and we look for a break below 130.00 to the 200 month ma and Fibonacci retracement at 128.27/52 (38.2% retracement of the move up from 2012)."
"This is the break down point to 124.94/June 2013 low en route to the 122.14/121.95 200 week ma and 50% retracement of the same move."
Key Quotes:
"This leaves our longer term negative bias intact and we look for a break below 130.00 to the 200 month ma and Fibonacci retracement at 128.27/52 (38.2% retracement of the move up from 2012)."
"This is the break down point to 124.94/June 2013 low en route to the 122.14/121.95 200 week ma and 50% retracement of the same move."