EUR/JPY: Break above June peak of 134.12 to clear the way towards 2018 high at 137.51 – Commerzbank

EUR/JPY has bought off to the 2020-2021 uptrend at 129.47. The pair is predicted to leap from right here and bounce as excessive as the 2018 height of 137.51, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

EUR/JPY objectives 134.12, the June high
“EUR/JPY has reached the 129.44/47 78.6% retracement and 2020- 2021 uptrend, which need to preserve the preliminary test. Resistance is the 131.86 close to time period downtrend and then the 134.12 June peak.”

“Below 129.40 lies 128.74, the sixth October low and the 127.94/50, August and September lows and the February 2019 high.”

“Longer-term, a ruin above the June height is favoured, and will introduce scope to 137.51.”

See – EUR/JPY: Strong trace of bullish intentions, in addition features beforehand – DBS Bank

EUR/JPY has offered off to the 2020-2021 uptrend at 129.47. The pair is anticipated to leap from right here and jump as excessive as the 2018 top of 137.51, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

EUR/JPY pursuits 134.12, the June high
“EUR/JPY has reached the 129.44/47 78.6% retracement and 2020- 2021 uptrend, which ought to keep the preliminary test. Resistance is the 131.86 near time period downtrend and then the 134.12 June peak.”

“Below 129.40 lies 128.74, the sixth October low and the 127.94/50, August and September lows and the February 2019 high.”

“Longer-term, a smash above the June height is favoured, and will introduce scope to 137.51.”

See – EUR/JPY: Strong trace of bullish intentions, in addition good points in advance – DBS Bank

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