USD/JPY has established itself above the Could peak of 131.30. Economists at Société Générale count on the pair to achieve subsequent projections at 138 and 141.
Be careful for assist at 131.30
“Month-to-month MACD is firmly anchored inside optimistic territory, which denotes upside momentum continues to be prevalent.”
“USD/JPY is quick heading in direction of the higher restrict of a multi-month channel at 138 and projections of 141. If these targets are achieved, it might end in a consolidation, though alerts of reversal are nonetheless not seen.”
“The subsequent important resistance may very well be at projections of 148/150 which can be the excessive shaped in 1998.”
“Solely a break beneath Could peak of 131.30 would denote a part of pullback.”
