USD/JPY needs to erode the 110.45 mark to enjoy further gains - SocGen

Market news

17 September 2021

USD/JPY needs to erode the 110.45 mark to enjoy further gains - SocGen

FXStreet reports that economists Société Générale suggest that USD/JPY should break either 108.72 or 110.45 to see the next direction leg established.

“USD/JPY has experienced a directionless price action since July.”

“Low formed in August at 108.72 is crucial support.”

“Break above recent high of 110.45 is essential to affirm an extended up-move.”

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