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- USD/JPY: Steady uptrend is a bit stretched, achievement of 144.40/145 levels could result in a pause – SocGen
USD/JPY: Steady uptrend is a bit stretched, achievement of 144.40/145 levels could result in a pause – SocGen
Economists at Société Générale analyze USD/JPY technical outlook.
Last month's high of 141 expected to be a short-term support
USD/JPY gave a break above a large consolidation last month and reclaimed the 200-DMA. This has resulted in a steady uptrend.
The pair is gradually heading towards next potential hurdles at projections of 144.40/145 and 146.10, the 76.4% retracement from last October. The move is a bit stretched and achievement of these levels could result in a pause.
If a pullback develops, last month high of 141 is expected to be a short-term support.
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