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- USD/JPY could climb as high as 119 on a break above YTD highs at 116.35 – BofA
USD/JPY could climb as high as 119 on a break above YTD highs at 116.35 – BofA
Economists at the Bank of America Global Research note that USD/JPY’s uptrend remains intact but the pair needs to surpass the year-to-date high at 116.35 to enjoy further gains.
Break below 113.47 to confirm a double top from YTD peaks
“USD/JPY needs to clear 116.35 (YTD high) for 117.40 and possibly the top of channel at 118.60-119.”
“Alternatively, below 113.47 confirms a double top from YTD peaks at 116.34/116.35.”
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