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13 Aug 2013
Flash: EUR/JPY eyes August highs - Commerzbank
FXstreet.com (Barcelona) - Analyst, Axel Rudolph, strategist at Commerzbank noted that on Monday EUR/JPY dropped to 127.97.
Key Quotes:
“… a fall through which should see follow through losses to 126.57, the June 26 low”.
“This is regarded as the last defence for the 124.94 June low which is our downside target for the weeks to come”.
“Intraday rallies are likely to find initial resistance at 129.65/71, the 55 day moving average and Friday’s high. Key resistance above it can be seen around the 131.97 current August high”.
Key Quotes:
“… a fall through which should see follow through losses to 126.57, the June 26 low”.
“This is regarded as the last defence for the 124.94 June low which is our downside target for the weeks to come”.
“Intraday rallies are likely to find initial resistance at 129.65/71, the 55 day moving average and Friday’s high. Key resistance above it can be seen around the 131.97 current August high”.