- USD/JPY: Beyond 141.50, next potential hurdles are at 142.50/142.80 – SocGen
Market news
16 June 2023
USD/JPY: Beyond 141.50, next potential hurdles are at 142.50/142.80 – SocGen
Yen is broadly offered. Economists at Société Générale analyze USD/JPY technical outlook.
An initial pullback is not ruled out
USD/JPY has faced interim resistance near the upper end of a multi-month channel at 141.50. An initial pullback is not ruled out however the 200-DMA and the upper band of the previous consolidation near 138/137.20 is expected to provide support. Defending this can lead to continuation in up move.
Beyond the 141.50 mark, next potential hurdles are at 142.50/142.80, the 61.8% retracement from last year.
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