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11 Sep 2013
Flash: EYR/JPY has the May peak at 133.82 in its sights- Commerzbank.
FXstreet.com (Athens): Karen Jones, Head Technical Analyst at Commerzbank suggests that the EUR/JPY has broken out of its triangle formation and targets the 133.82 May high in the first instance.
Key Quotes:
“Above it (133.82), lies the 2010 peak at 134.37. Still further up sits major resistance at 137.42/139.26 where the April, May, August and October 2009 highs were all made.”
“The triangle measures up to 141.05. Support is seen between the 55 day moving average at 130.51 and the triangle support line at 129.56.”
Key Quotes:
“Above it (133.82), lies the 2010 peak at 134.37. Still further up sits major resistance at 137.42/139.26 where the April, May, August and October 2009 highs were all made.”
“The triangle measures up to 141.05. Support is seen between the 55 day moving average at 130.51 and the triangle support line at 129.56.”