EUR/JPY: Negative outlook – Commerzbank

The EUR/JPY pair is in 4 months low, currently trading at 119.12. Karen Jones, an analyst at Commerzbank, recommends lowering stop-loss as she has a negative bias for the pair. 

Key quotes

“EUR/JPY’s outlook remains negative and we regard the 121.15 high charted recently as an interim peak.” 

“We will maintain a negative bias and the break below the 119.26 mid-November low targets the 117.06 October low.”

“Lower stop from 120.25 to 120.15.”