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14 Apr 2015
EUR/JPY: Strong resistances through 131 handle - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted key resistance levels in EUR/JPY and offered their current trading strategy.
Key Quotes:
"Overhead recent highs at 131.30 and 131.52 and the March 18 high at 131.67 and the February low at 132.00 offer formidable resistance and while capped here the market remains offered."
"Current Position: Holding small shorts 127.80. Recommended Trade: Add 128.15, stop 129.65.Exit 125.00. Shorter term (1-3 weeks): Offered below the March 18 high at 131.67."
"Medium term (1-3 months): Topped ahead of 150. Looking for slippage to 125.00, then 122.42/121.95."
Key Quotes:
"Overhead recent highs at 131.30 and 131.52 and the March 18 high at 131.67 and the February low at 132.00 offer formidable resistance and while capped here the market remains offered."
"Current Position: Holding small shorts 127.80. Recommended Trade: Add 128.15, stop 129.65.Exit 125.00. Shorter term (1-3 weeks): Offered below the March 18 high at 131.67."
"Medium term (1-3 months): Topped ahead of 150. Looking for slippage to 125.00, then 122.42/121.95."