30 Mar 2015
SEB: USD/JPY respecting the key support – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares SEB’s intraday technical outlook for USD/JPY.
Key Quotes
“The market did little on Friday to scatter the clouds over whether we’ve completed a bullish three wave downside correction at 118.33 or not.”
“As earlier elaborated a break of the 118.33/118.11-area will swing the pendulum in favor of a potential larger double top formation being created.”
“Remaining on top of the key support zone will call for the 122.04 – 118.33 drop to have been part and parcel of a bull market correction (and for new highs to be traced out.”
Key Quotes
“The market did little on Friday to scatter the clouds over whether we’ve completed a bullish three wave downside correction at 118.33 or not.”
“As earlier elaborated a break of the 118.33/118.11-area will swing the pendulum in favor of a potential larger double top formation being created.”
“Remaining on top of the key support zone will call for the 122.04 – 118.33 drop to have been part and parcel of a bull market correction (and for new highs to be traced out.”