18 Jun 2015
SEB: USD/JPY eyeing 122.04 – eFXnews
FXStreet (Barcelona) - The Technical Strategy Team at SEB Group warns USD/JPY bulls as the pair looks to make a move lower towards 122.04, as noted by eFXnews.
Key Quotes
“After five consecutive days spiking above the mid body point of the June 10 falling benchmark candle the pair should be ready to continue lower. Given the rapid buildup of short yen positions the offering above 123.50 must have been very annoying, not to speak of what a drop down (or even below) 122.04 will be.”
“It is also clearly a bearish sign that down hours are drawing a lot more volumes than up ones. 122.04 will soon be up for grabs.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“After five consecutive days spiking above the mid body point of the June 10 falling benchmark candle the pair should be ready to continue lower. Given the rapid buildup of short yen positions the offering above 123.50 must have been very annoying, not to speak of what a drop down (or even below) 122.04 will be.”
“It is also clearly a bearish sign that down hours are drawing a lot more volumes than up ones. 122.04 will soon be up for grabs.”
This content has been provided under specific arrangement with eFXnews.