EUR/JPY: Intraday charts are negative - CB

FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that EUR/JPY has seen a slight erosion of its initial Fibonacci resistance at 134.80.

Key Quotes:

"Near term strength is viewed as corrective only, however the move above 134.85 does allow for a deeper retracement into the 136.56/138.57 band."

"The corrective move higher should falter ahead of the 200 day moving average at 139.76. We note however that the intraday charts are more negative."