fbpx
2.7 C
London
Saturday, January 23, 2021

EUR/JPY targets the 200-week moving average at 124.80 – Commerzbank

EUR/JPY is trading around the 1.24 level and though Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, sees the pair marching higher toward the 200-week ma at 124.80 she cannot rule out a pullback to the 122.18 mark.

Key quotes

- Advertisement -

“EUR/JPY is consolidating above the 122.88 January high and attention remains on the June high at 124.43 and the 200-week ma at 124.80.” 

“The pair is in a very tight range but we remain unable to rule out a pullback towards the three-month uptrend at 122.18 prior to recovery. This guards the current July low at 120.28.” 

“The 200-week ma at 124.80 guards the 2014-2020 resistance line at 127.90.”

- Advertisement -

 

- Advertisement -

Follow Us

16,985FansLike
4,865FollowersFollow
1,643FollowersFollow

Latest news