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Sep 2, 2014
Focus on 138.04-138.70 resistace - JPMorgan
FXStreet (Bali) - According to Thomas Anthonj, FX Strategist at JPMorgan, the focus is now on key-resistance between 138.04 and 138.70.
Key Quotes
"In EUR/JPY, the focus is now on key-resistance between 138.04 and 138.70 (daily neckline/minor 38.2 %). Below the down-bias remains intact and 135.55 (minor 38.2 %) to 134.36 (C = A) in focus, which if taken out would even call for a deeper setback to 128.10 (38.2 % on higher scale)."
Key Quotes
"In EUR/JPY, the focus is now on key-resistance between 138.04 and 138.70 (daily neckline/minor 38.2 %). Below the down-bias remains intact and 135.55 (minor 38.2 %) to 134.36 (C = A) in focus, which if taken out would even call for a deeper setback to 128.10 (38.2 % on higher scale)."