USD/JPY on its way to 200-WMA around 113.25 – Societe Generale

Reuters reports comments from the Head of FX and money-market sales at Societe Generale in Tokyo, as he offers his view on the USD/JPY pair.
Key Headlines:
USD/JPY may have more upside.
Cites it breaking a three-year descending trend line, breakthrough of this resistance is "significant".
Nominates target 200-week moving average around 113.26.
Warns "risk of being caught wrong-footed by betting that USD/JPY won't rise".
a concern that it wasn't the dollar-based reason that boosted the greenback on Wednesday
USD/JPY range revised higher.
110 looks to be a strong support.
Author

Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

















