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3 Nov 2014
SEB:Caution if USD/JPY closing below 112.14 - eFXnews
FXStreet (Łódź) - The eFXnews team remark that the SEB sees a risk of a correction in USD/JPY.
Key quotes
"Friday’s buying spree brought the pair up above the estimated ceiling line at 112.08."
"The move is however starting to look stretched so there’s clearly an increasing correction risk lurking."
"Ending today back into the channel will increase such a risk and will probably trigger a few stops."
"Should a setback occur the mid body point, 110.75, of Friday’s rising benchmark candle, will be a first hand target."
'This content has been provided under specific arrangement with eFXnews.'
Key quotes
"Friday’s buying spree brought the pair up above the estimated ceiling line at 112.08."
"The move is however starting to look stretched so there’s clearly an increasing correction risk lurking."
"Ending today back into the channel will increase such a risk and will probably trigger a few stops."
"Should a setback occur the mid body point, 110.75, of Friday’s rising benchmark candle, will be a first hand target."
'This content has been provided under specific arrangement with eFXnews.'