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15 Jan 2015
SEB: USD/JPY might move towards 119.81 levels - eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB anticipates USD/JPY to make a move towards 119.81 levels.
Key Quotes
“Triangle construction continues. Just like we repeatedly failed above the 78.6% resistance (120.52) the market yesterday spiked below the 78.6% support (contracting triangles are normally formed by the market moving 78.6% of the preceding move until the five waves a-e have been completed). If following the blueprint of triangle constructions the pair should now move up to 119.81 (wave d). Falling below the low point for wave a, 115.56 will call the triangle case wrong.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Triangle construction continues. Just like we repeatedly failed above the 78.6% resistance (120.52) the market yesterday spiked below the 78.6% support (contracting triangles are normally formed by the market moving 78.6% of the preceding move until the five waves a-e have been completed). If following the blueprint of triangle constructions the pair should now move up to 119.81 (wave d). Falling below the low point for wave a, 115.56 will call the triangle case wrong.”
This content has been provided under specific arrangement with eFXnews.