FORECASTS OF EUR/JPY FOR THE YEAR 2016
SEPTEMBER 11, 2015
FORECASTS OF EUR/JPY FOR THE YEAR 2016 Technical Analysis
EUR/JPY
The currency pair EUR/JPY weekly price is on bearish side
ranging between the following S/R Levels:
§ On the chart
given below, located near the upper border of Ichimoku cloud which shows
the 138.52 resistance level on the
bullish side;
§ While on the
other hand, support level of 127.03 located far below Ichimoku cloud shows the
bearish area.
According to Seven Star FX Ltd forecast; where we can’t
expect the currency par “EUR/JPY” price to break 139.01 'reversal' resistance
from below to above, however the price seems to be on bearish side breaking
down 127.01 bearish target that might start in the beginning of the year 2016.
If the economic conditions & exports between the two countries remains to
be the same.
(Source: Seven Star FX Research Center)
Forecast EUR/JPY
(For Q3 & Q4 of 2015' , Q1&
Q2 of
2016')
|
Quarter 3: 134.82 (2015)
Quarter 4: 128.9 (2015)
Quarter 1 :124.14 (2016)
Quarter 2: 122.5 (2016)
|
Below given is the chart pattern that help you to
forecast the trend reversal in the later half of the
year or beginning of 2016:
From the above chart, we are expecting the bearish market
condition for pair EUR/JPY for the year 2016 with the breakdown price movement
started in the beginning of the next year. The weekly price doesn’t seem to be
reversed to the bullish, while the monthly price will be on bearish side for
the beginning of the year 2016.
Analyst View for ‘16:
Bearish
Research Team:
1.
Analyst:
Mr. Dhruv Williams – (+1) 316 413 3777
2.
Associate Analyst:
Mr. Konstantinos Nikolakakis– (+30)
6989624628
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is accurate or complete and it should not be relied upon as such. We may have
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report is intended for non- Institutional Clients only
This report
has been prepared by the Retail Research team of Seven Star FX Ltd. The views,
opinions, estimates, ratings, target price, entry prices and/or other
parameters mentioned in this document may or may not match or may be contrary
with those of the other Research
Teams
(Institutional, PCG) of Seven Star FX Ltd
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