USD/JPY: Next potential hurdles are located at 149.20 and 150.30 – SocGen

FXStreet Insights Team FXStreet

USD/JPY has risen above 148. Economists at Société Générale analyze the pair’s technical outlook.

Break below 145.90 crucial to affirm a short-term down move

USD/JPY has staged recent leg of uptrend within two converging lines resembling a rising wedge; the pattern generally denotes receding upward momentum. This is also highlighted by daily MACD which has turned flat. However, signals of reversal in price action are not yet visible.

A break below recent pivot low at 145.90 is crucial to affirm a short-term down move.

Next potential hurdles are located at projections of 149.20 and 150.30.

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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