USD/JPY: Steady uptrend is a bit stretched, achievement of 144.40/145 levels could result in a pause – SocGen

Market news

28 June 2023

USD/JPY: Steady uptrend is a bit stretched, achievement of 144.40/145 levels could result in a pause – SocGen

Economists at Société Générale analyze USD/JPY technical outlook.

Last month's high of 141 expected to be a short-term support

USD/JPY gave a break above a large consolidation last month and reclaimed the 200-DMA. This has resulted in a steady uptrend.

The pair is gradually heading towards next potential hurdles at projections of 144.40/145 and 146.10, the 76.4% retracement from last October. The move is a bit stretched and achievement of these levels could result in a pause.

If a pullback develops, last month high of 141 is expected to be a short-term support.

Currencies. Daily history for Wednesday, June 28, 2023

Commodities. Daily history for Tuesday, June 27, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.