9 Mar 2015
SEB: USD/JPY bull triangle exit confirmed – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares SEB’s intraday technical outlook for USD/JPY, with SEB predicting that the pair might move higher above 121.86 levels.
Key Quotes
“With the break above the d-wave high, 120.48, the bull triangle was confirmed exited.”
“The pair should now move on higher printing a new trend high above 121.86 (which also is an absolute minimum target for the advance). The theoretical target for the exited triangle is 126.35 but we however think that the 2007 peak at 124.14 being a more likely target.”
“The move is also seen still lagging the decline of €/$ hence keeping €/JPY under pressure (130.16 key support for now).”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“With the break above the d-wave high, 120.48, the bull triangle was confirmed exited.”
“The pair should now move on higher printing a new trend high above 121.86 (which also is an absolute minimum target for the advance). The theoretical target for the exited triangle is 126.35 but we however think that the 2007 peak at 124.14 being a more likely target.”
“The move is also seen still lagging the decline of €/$ hence keeping €/JPY under pressure (130.16 key support for now).”
This content has been provided under specific arrangement with eFXnews.