OctaFX | OctaFX Forex Broker
Open trading account
Back

SEB: Some USD/JPY buying at support - eFXnews

FXStreet (Łódź) - The eFXnews team point out that the SEB suggests that a lasting low for USD/JPY is not a certainty.

Key quotes

"The slump did not end before testing and temporarily breaking below the early Jan high mark at 105.44."

"But it's far from certain that a more lasting low is in place, since am alternative 261.8% Fibo projection ref at 104.45 remains to be filled."

"Mid-body resistance at 106.50 is the first hurdle for bulls coming back in and then 107.50 is equally important to reclaim to put the pair back on safer ground again."

'This content has been provided under specific arrangement with eFXnews.'

Brent crude remains weak

Brent Crude oil prices continue to remain weak amid the fall in the equity markets across the globe. Brent Crude for December delivery has lost more than a fifth of its value since hitting 2014 highs in June.
Read more Previous

EUR/USD now testing lows in 1.2720

The single currency is intensifying its intraday correction on Thursday, now dragging EUR/USD back to the 1.2725/20 area...
Read more Next
Start livechat