Market news

7 June 2021

EUR/JPY starts to ease lower, holding the 133.12-mark is crucial - Commerzbank

FXStreet notes that EUR/JPY is coming under pressure. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, stays focused on the 133.12 as a break below here would open the way for a slump towards the 131.51/40 neighborhood.

“EUR/JPY is starting to correct lower and attention is on the 20-day ma at 133.12. The 20-day ma guards the 6-month uptrend at 131.51 and this is reinforced by the 55-day ma at 131.40.” 

“Initial resistance is 134.12, the current June high.” 

“Our longer-term target is the 137.51 2018 high.”

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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