USD/JPY: 125.85/124.00 could be next significant support zone – SocGen
|USD/JPY accelerates the downfall to 128.00. The pair could dive as low as 124.00, economists at Société Générale report.
Channel at 134/134.80 should cap short-term upside
“Daily MACD has flattened recently however signals of an extended bounce are not yet visible.”
“The pair is likely to drift towards next projections at 128 and 126.80. Peak of 2015 near 125.85/124.00 could be the next significant support zone.”
“The channel at 134/134.80 should cap short-term upside.”
See: USD/JPY looks set to challenge the 126.50 mark – ING
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. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.