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22 May 2015
SEB: EUR/JPY ready to thrust lower – eFXnews
FXStreet (Barcelona) - The Technical Strategy Team at SEB sees EUR/JPY being vulnerable to a selloff towards 132.29 and then 130.40, as noted by eFXnews.
Key Quotes
“The bear flag that is under construction will soon be finished leaving the pair in a very vulnerable position for another sell off.”
“Yesterday’s topside spike (from above the mid body point of the latest falling benchmark candle) suggests that a downturn is near so keep an eye at the neckline of the potential head and shoulders top.”
“Breaking 133.86, the recent reaction low, will set a move in motion that will at a minimum target 132.29 (strong support thereafter at 132.9) and ideally (if it’s a head and shoulders target and not a common three wave, a-b-c, downside correction) 130.40.”
Key Quotes
“The bear flag that is under construction will soon be finished leaving the pair in a very vulnerable position for another sell off.”
“Yesterday’s topside spike (from above the mid body point of the latest falling benchmark candle) suggests that a downturn is near so keep an eye at the neckline of the potential head and shoulders top.”
“Breaking 133.86, the recent reaction low, will set a move in motion that will at a minimum target 132.29 (strong support thereafter at 132.9) and ideally (if it’s a head and shoulders target and not a common three wave, a-b-c, downside correction) 130.40.”