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2 Jun 2015
SEB: Time for a correctional setback in USD/JPY? – eFXnews
FXStreet (Barcelona) - The Technical Strategy Team at SEB view that failing to reclaim session highs might add a bearish print in USD/JPY, as noted by eFXnews.
Key Quotes
“A medium-term 261.8% Fibo projection ref was tested and rejected this morning. The day has already begun, but if bulls fail to reclaim the session highs again today, a bearish print would be added and so at oxygen mask altitude.”
“A shallower setback would only reach 124.35 or possibly 123.85/50 while a deeper correction would include a weekly mid-body test at 122.85.”
“Current intraday stretches are located at 123.95 & 125.25.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“A medium-term 261.8% Fibo projection ref was tested and rejected this morning. The day has already begun, but if bulls fail to reclaim the session highs again today, a bearish print would be added and so at oxygen mask altitude.”
“A shallower setback would only reach 124.35 or possibly 123.85/50 while a deeper correction would include a weekly mid-body test at 122.85.”
“Current intraday stretches are located at 123.95 & 125.25.”
This content has been provided under specific arrangement with eFXnews.