EUR/JPY to extend its rise towards the 133.13/48 zone – Commerzbank

EUR/JPY is in new highs for the year and has the highs from April 2018 and September 2018 at 133.13/48 in its sights, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, briefs.

Bullish above uptrend is at 130.30

“EUR/JPY continues to inch higher and is poised to reach 133.13/48, these are the highs from April 2018 and September 2018 and they may provoke some profit-taking.” 

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

“Uptrend support at 130.30 is reinforced by the 55-day ma at 130.10 and while above here, attention remains on the topside.”