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.

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.