Quarterly Outlook
Investor Outlook: Beyond American shores – why diversification is your strongest ally
Jacob Falkencrone
Global Head of Investment Strategy
Technical Analyst, Saxo Bank Group
EURJPY seems to be trading in a corrective falling like pattern – also called a Flag.
RSI is set to close above its falling trendline and if it does we could see EURJPY testing the upper trend line in the Flag. A close above that trendline could fuel another rally higher towards 150.64- 151.70. a level not seen since 2008.
A close above 147.11 will confirm that bullish scenario.
IF EURJPY instead slides lower closing below 142.50 there could be down side potential to around 139 with support around 141.
Q3 Macro Outlook: Less chaos, and hopefully a bit more clarity