17 Oct 2014
SEB: Notably large EUR/JPY downside 'Shadow' - eFXnews
FXStreet (Łódź) - The eFXnews team remark that the SEB comments on EUR/JPY's downward move yesterday.
Key quotes
"The deep move lower, breaking a medium-term 'Equality point' at 134.36 was sharply rejected by a strong buyers' response yesterday."
"A short-term pivot and a short-term descending line of resistance near market may provide some resistance and fore the market to retrace some of its intraday gains from yesterday."
"But given the sharp rejections a +136.60 in the cards and if so a tentative target at 137.95 could be applied."
'This content has been provided under specific arrangement with eFXnews.'
Key quotes
"The deep move lower, breaking a medium-term 'Equality point' at 134.36 was sharply rejected by a strong buyers' response yesterday."
"A short-term pivot and a short-term descending line of resistance near market may provide some resistance and fore the market to retrace some of its intraday gains from yesterday."
"But given the sharp rejections a +136.60 in the cards and if so a tentative target at 137.95 could be applied."
'This content has been provided under specific arrangement with eFXnews.'