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26 Feb 2015
SEB: USD/JPY selling to resume, target 118.30 – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares SEB’s intraday technical outlook for USD/JPY, with SEB predicting a lower move for the pair towards 118.30.
Key Quotes
“The false upside break, the up-thrust top still calls for the market to try lower levels.”
“The very slow recovery from yesterday’s low point, 118.62, also indicates that the market should be vulnerable to renewed selling.”
“So if our assumption is right selling should resume basically here and now calling for next a move down to 118.30 and/or 118.10.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The false upside break, the up-thrust top still calls for the market to try lower levels.”
“The very slow recovery from yesterday’s low point, 118.62, also indicates that the market should be vulnerable to renewed selling.”
“So if our assumption is right selling should resume basically here and now calling for next a move down to 118.30 and/or 118.10.”
This content has been provided under specific arrangement with eFXnews.