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- USD/JPY: 200-DMA near 138/137.20 expected to provide support – SocGen
USD/JPY: 200-DMA near 138/137.20 expected to provide support – SocGen
Economists at Société Générale analyze USD/JPY technical outlook.
Converging towards 142.50/142.80
After a brief pause, USD/JPY has resumed its phase of rebound. The pair is now challenging a multi-month channel band; an initial pullback is not ruled out however 200-DMA near 138/137.20 is expected to provide support. Defending this can lead to continuation in up move.
Next potential hurdles are at 142.50/142.80, the 61.8% retracement from last year and 144.40.
See: USD/JPY to break above 142.25/50 toward next resistance at resistance at 145.00/12 – Credit Suisse
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