Wednesday, July 1, 2009

Barclays Capital on the prospects for euro / yen

Ofer in Y136.50/55 still holding back the pressure on the euro bulls, but the mood remains positive and continues to attempt to reduce to attract new buyers. The breakthrough opens the way for the above Y136.80 and Y137.00/10, whereas, in general, according to currency strategists Barclays Capital, the euro / yen is now quite possible to expect growth to Y137.50, taking into account the materialization inverted head and shoulders. However, in the bank are quite skeptical about the longer-term prospects for couples, and note that a number of technical signals indicate that the rally this year, fading, hence the current upward movement may provide an opportunity to open a strategic short positions.

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