Back
15 Jan 2015
EUR/JPY: Risk of a broader 4th wave setback to 130.63 - JPMorgan
FXStreet (Bali) - According to Thomas Anthonj, FX Strategist at JP Morgan, there are increased risks of EUR/JPY having launched a broader 4th wave setback to 130.63.
Key Quotes
"we see the great risk of having at least launched a broader 4th wave setback to 130.63 (int. 38.2 %) based on the impulsive sell-off from the 149.78 top."
"That said, only breaks above 143.01/48 (minor 38.2 %) would start questioning this negative view again in favor of a broader recovery to 147.57 (minor 76.4 %) if not a straight extension to 152.07 (76.4 % on highest scale)."
Key Quotes
"we see the great risk of having at least launched a broader 4th wave setback to 130.63 (int. 38.2 %) based on the impulsive sell-off from the 149.78 top."
"That said, only breaks above 143.01/48 (minor 38.2 %) would start questioning this negative view again in favor of a broader recovery to 147.57 (minor 76.4 %) if not a straight extension to 152.07 (76.4 % on highest scale)."