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12 Mar 2015
SEB: USD/JPY downside risks mounting – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB’s shares its intraday technical outlook for USD/JPY.
Key Quotes
“The false upside break is clearly imposing a downside threat to the pair and especially so as the move above 121.86 fulfilled, very marginally but nevertheless, an absolute minimum target for the Dec bull triangle.”
“In an hourly chart there’s more bits and pieces pointing to a mounting downside risk (sellers are more aggressive than the buyers, volumes are greater during down hours and there’s a potential inverse head and shoulders top (neckline at 121.00).”
“Early birds should sell a 121.15 break.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The false upside break is clearly imposing a downside threat to the pair and especially so as the move above 121.86 fulfilled, very marginally but nevertheless, an absolute minimum target for the Dec bull triangle.”
“In an hourly chart there’s more bits and pieces pointing to a mounting downside risk (sellers are more aggressive than the buyers, volumes are greater during down hours and there’s a potential inverse head and shoulders top (neckline at 121.00).”
“Early birds should sell a 121.15 break.”
This content has been provided under specific arrangement with eFXnews.