USD/JPY TO HEAD HIGHER TOWARDS LAST YEAR HIGH OF 152.00 – SOCGEN
USD/JPY is approaching the 2023 high of 152.00. Economists at Société Générale analyze the pair’s technical outlook.
146.00/145.50 is a crucial support zone
USD/JPY defended the trend line drawn since 2022 at 140.20 resulting in a sharp rebound. It recently crossed above both 50-DMA and 200-DMA. Confluence of those MAs near 146.00/145.50 is a crucial support zone.
The pair is expected to head higher towards last year high of 152.00. If this is overcome, a larger uptrend can’t be ruled out towards next projections at 154.50/155.0
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