As the currency strategist at Barclays Capital, the euro / yen on Monday retreated from support below 130.00, but it does not appear any convincing bullish signals. Consequently, bank analysts have maintained bearish forecast for the pair. The bank believes that the pair can not be the first attempt to overcome the level of 129.50, where the Fibonacci support and 200-day moving average. However in the case of a breakthrough at this level next major support will mark 127.00. As a strategy the bank preferred to sell a couple on the growth with a stop above 133.50. Currently, the euro / yen is at 130.80.
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