#USDJPY @ 128.412 to test 2015 peak of 125.85/124 – SocGen
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USD/JPY hit an eight-month low at 127.24. Next objectives are at projections of 126.80 and 2015 levels of 125.85/124.00, economists at Société Générale report.
“The pair is expected to head lower towards projections of 126.80 and the peak of 2015 near 125.85/124.00. This could be an important support zone.”
“Daily MACD has flattened recently however signals of a meaningful bounce are not yet visible.”
“The 200DMA at 136.50 should cap upside.”
See: USD/JPY can trade down to 126.50 before BoJ’s meeting – ING
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