9 Jul 2015
SEB: USD/JPY risks a move towards 118.33 – eFXnews
FXStreet (Barcelona) - The Technical Strategy Team at SEB, believes that having broken below a key support, USD/JPY now risks moving lower in its 118.33-122.04 range, as noted by eFXnews.
Key Quotes
“This time the break below 122.04 (Mar peak) was sustained and the pair closed well below it. The development points at more losses being in the pipeline so look for the current bounce to stall ahead of the former support as it now will be acting resistance. The return into the prior 118.33 – 122.04 range suggests that there’s a growing risk of visiting the lower end of the range.”
“EUR/JPY - a break of 133.10 still the key downside trigger. AUD/JPY – posted a major break lower yesterday.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“This time the break below 122.04 (Mar peak) was sustained and the pair closed well below it. The development points at more losses being in the pipeline so look for the current bounce to stall ahead of the former support as it now will be acting resistance. The return into the prior 118.33 – 122.04 range suggests that there’s a growing risk of visiting the lower end of the range.”
“EUR/JPY - a break of 133.10 still the key downside trigger. AUD/JPY – posted a major break lower yesterday.”
This content has been provided under specific arrangement with eFXnews.