Feb 19, 2013
Forex Flash: EUR/JPY with potential bull flag - Commerzbank
Commerzbank analysts see a potential bull flag in the chart, and while under pinned by trendline support at 120.91 an upside bias will remain. Below it, there is also the 2 month steeper trendline at 123.52. “Near term resistance lies at 125.98, a break above here would cast attention back to the key resistance at 127.71/93, the 6th February high and the April 2010 high”, wrote analyst Karen Jones, adding upside targets at 129.00 (Fibo) ahead of 136.71, the upside measured target from the falling wedge.