LONG EUR/JPY: Ignore Head & Shoulders Structure

20 авг. 2017 г.

We like being long EUR/JPY after last week's slide. While it would seem like EUR/JPY has formed a head & shoulders topping out pattern, we believe bearish conclusions can easily be invalidated over the next 3-8 weeks. For now, keep tabs. Our sense is that won't print anything lower from hereon. We'll know for sure by September.