Back
16 Oct 2014
SEB: Some USD/JPY buying at support - eFXnews
FXStreet (Łódź) - The eFXnews team point out that the SEB suggests that a lasting low for USD/JPY is not a certainty.
Key quotes
"The slump did not end before testing and temporarily breaking below the early Jan high mark at 105.44."
"But it's far from certain that a more lasting low is in place, since am alternative 261.8% Fibo projection ref at 104.45 remains to be filled."
"Mid-body resistance at 106.50 is the first hurdle for bulls coming back in and then 107.50 is equally important to reclaim to put the pair back on safer ground again."
'This content has been provided under specific arrangement with eFXnews.'
Key quotes
"The slump did not end before testing and temporarily breaking below the early Jan high mark at 105.44."
"But it's far from certain that a more lasting low is in place, since am alternative 261.8% Fibo projection ref at 104.45 remains to be filled."
"Mid-body resistance at 106.50 is the first hurdle for bulls coming back in and then 107.50 is equally important to reclaim to put the pair back on safer ground again."
'This content has been provided under specific arrangement with eFXnews.'