EUR/JPY’s near term outlook is neutralising? - Commerzbank

Analysts at Commerzbank suggested that EUR/JPY’s near term outlook is neutralising. 

Key Quotes:

"Last week it failed to clear the 125.81 May high."

"We would allow for slippage to 122.56 last weeks low and potentially the 121.05 55 day ma, but suspect that it will hold in this vicinity."

"Where are we wrong near term? Above the 125.81 recent high will target the 2016-2017 channel at 127.13. Beyond this the market looks set for further gains towards the 129.55/130.82 50% retracement and the 200 week ma."