SEB: EUR/JPY needs to push above 137.20/138.80 to get off bearish phase – eFXnews

FXStreet (Barcelona) – The Technical Strategy Team at SEB, believes that EUR/JPY requires to reclaim the 137.20/138.80 21day EMA band to ease bearish pressure, as noted by eFXnews.

Key Quotes

“The short-term (bullish) “Cloud” and the short-term downside stretch (as defined by the deviation away from its monthly average) were respected. A long lower shadow and a high session close puts pressure back on the 21day exponentially weighted moving average band (137.20/138.80) which in reality also has to be reclaimed to get the pair off the bearish edge.”

This forecast has been provided under specific arrangement with eFXnews.

The Technical Strategy Team at SEB, believes that EUR/JPY requires to reclaim the 137.20/138.80 21day EMA band to ease bearish pressure, as noted by eFXnews.

(Market News Provided by FXstreet)