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2 Dec 2014
USD/JPY false upside break – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes, SEB feels the false break above 118.98 further enhancing the bearish divergence.
Key Quotes
“The break above 118.98 as expected became a false one so the bear divergence was further enhanced. The only missing part is now that stochastic must break below its late Nov through in order to confirm the bear divergence. A short-term short position should be kept as long as we are holding below 118.53 (or otherwise a marginally new top (and a new selling opportunity).”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The break above 118.98 as expected became a false one so the bear divergence was further enhanced. The only missing part is now that stochastic must break below its late Nov through in order to confirm the bear divergence. A short-term short position should be kept as long as we are holding below 118.53 (or otherwise a marginally new top (and a new selling opportunity).”
This content has been provided under specific arrangement with eFXnews.