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One year outlook for EUR/JPY
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One year outlook for EUR/JPY
Thu, Jun 29 2006, 13:29 GMT
by Nicole Elliott
One year outlook for EUR/JPY to end 2007
Comment: For three consecutive years EUR/JPY has been struggling with resistance around 140.00. This should come as no surprise as it is where quarterly trendline resistance lies and all Euro bounces (or Deutschmark ones) have held below it since the mid 1970’s. We feel that the rally that started in 2001 is part of a new ultra-long term cycle of Yen weakness against many currencies, and we are poised to move up another notch. Some time this quarter we should rally to 145.00 and the psychological level at 150.00 where some consolidation is likely. Late in 2006 we shall allow for a squeeze up to the October 1998 high at 164.00. Then a lot more consolidation in H1 2007 roughly between 155.00 and 167.00. By the end of 2007 there is a small chance that this cross might hit 180.00.A monthly close below 137.00 would force us to adjust.
Published on Fri, Jun 30 2006, 07:39 GMT
Archive
- The collapse in H2 2008 was so fast
Published On Thu, Jan 8 2009, 16:18 GMT - One year outlook for EUR/JPY
Published On Fri, Nov 17 2006, 15:05 GMT - One year outlook for EUR/JPY
Published On Thu, Jun 29 2006, 08:29 GMT
Mizuho Corporate Bank
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