USD/JPY: Rebound could extend on a move beyond recent high of 141 – SocGen USDJPY Technical Analysis Banks
USD/JPY has so far defended the graphical levels of 138/137.20 which is also the 200-DMA. It is worth noting that this region had acted as a hurdle since December and is expected to be an intermittent support. Only a break below would denote possibility of a deeper decline.
In case USD/JPY establishes beyond recent high of 141, the phase of rebound could extend towards 142.50/142.80, the 61.8% retracement from last October and 144.40.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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