21 Jan 2014
Flash: EUR/JPY straight extension up towards 152.07 favored - JPMorgan
FXstreet.com (Bali) - The setback risk in EUR/JPY is higher but the upside is still favoured, according to Thomas Anthonj, FX Strategist at JPMorgan.
Key Quotes
"Having defended 140.15 (minor 38.2 %) in the last setback, a straight extension up towards 152.07 (int. 76.4 %) is still favored."
"It requires confirmation via a break above 144.46 (minor 76.4 %)."
"Below, a deeper setback to 140.15 if not to the key-T-junction at 137.77 (38.2 % on higher scale) could still be looming."
Key Quotes
"Having defended 140.15 (minor 38.2 %) in the last setback, a straight extension up towards 152.07 (int. 76.4 %) is still favored."
"It requires confirmation via a break above 144.46 (minor 76.4 %)."
"Below, a deeper setback to 140.15 if not to the key-T-junction at 137.77 (38.2 % on higher scale) could still be looming."