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30 Jun 2015
SEB: EUR/JPY needs to push above 137.20/138.80 to get off bearish phase – eFXnews
FXStreet (Barcelona) - The Technical Strategy Team at SEB, believes that EUR/JPY requires to reclaim the 137.20/138.80 21day EMA band to ease bearish pressure, as noted by eFXnews.
Key Quotes
“The short-term (bullish) "Cloud" and the short-term downside stretch (as defined by the deviation away from its monthly average) were respected. A long lower shadow and a high session close puts pressure back on the 21day exponentially weighted moving average band (137.20/138.80) which in reality also has to be reclaimed to get the pair off the bearish edge.”
This forecast has been provided under specific arrangement with eFXnews.
Key Quotes
“The short-term (bullish) "Cloud" and the short-term downside stretch (as defined by the deviation away from its monthly average) were respected. A long lower shadow and a high session close puts pressure back on the 21day exponentially weighted moving average band (137.20/138.80) which in reality also has to be reclaimed to get the pair off the bearish edge.”
This forecast has been provided under specific arrangement with eFXnews.