so does it mean we have to go long on both these pairs?
EUR/USD, USD/JPY: We're Bearish & Short - BofA Merrill
Euro Stoxx Banks Index is completing an almost 6m Head and Shoulders Top and this could be trouble for EUR/USD, says Bank of America Merrill Lynch. "The Euro Stoxx Banks Index has broken down, completing a 6m Head and Shoulders Top. A close below 145.40 confirms the top and turn lower, targeting 130.52/124.93 before renewed basing and a resumption of the long term (2yr) bull trend," BofA adds. This, according to BofA, could push EUR/USD lower reinforcing that its medium, potentially long term, bear trend is resuming after a 2 month hiatus. "Initial targets are seen to 1.3212 (swing target) ahead of 1.3104 and then ... (full story)