- Analytics
- News and Tools
- Market News
- USD/JPY: Break below 127.20 can deepen the fall – SocGen
USD/JPY: Break below 127.20 can deepen the fall – SocGen
USD/JPY managed to stage a rebound from multi-week lows on Thursday but failed to gather recovery momentum. Economists at Société Générale note that the pair could see another leg lower on a break under 127.20.
Support 127.20, resistance 129.90
“USD/JPY rebounded towards the upper limit of the steep channel within which recent decline evolved at 131/131.20 (now at 129.90), however, a break is still awaited.”
“Failure to reclaim last week's high of 131/131.20 could mean persistence in decline.”
“US NFP may test depth of support for stronger Yen and return to a mid-January low of 127.23.”
“Below 127.20, next potential supports are located at 126.50/125.85 representing 2015 high and 124.00.”
See – US NFP Preview: Forecasts from eight major banks, another healthy gain
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
