USD/JPY: 200-DMA NEAR 146.00 IS CRUCIAL SUPPORT NEAR TERM – SOCGEN
USD/JPY extends rebound from Thursday’s low of 149.21. Economists at Société Générale analyze the pair’s outlook.
A revisit of last year’s high near 152.00 is on the cards
USD/JPY recently crossed above both 50-DMA and 200-DMA resulting in extension of its bounce. It has experienced a brief pause recently.
Daily MACD has turned flat but remains anchored in positive territory denoting prevalence of upward momentum.
A revisit of last year’s high near 152.00 can’t be ruled out. If this is overcome, a larger uptrend is likely towards next projections at 154.50/155.00.
The 200-DMA near 146.00 is crucial support near term.
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