USD/JPY: Decline to continue on failure to cross 152 resistance – SocGen

Market news

27 November 2023

USD/JPY: Decline to continue on failure to cross 152 resistance – SocGen

USD/JPY remains just below 150. Economists at Société Générale analyze the pair’s outlook.

USD/JPY must re-establish beyond 152 to confirm next leg of uptrend

USD/JPY must re-establish beyond 152 to confirm next leg of uptrend. Failure to cross this resistance is expected to result in continuation in down move.

Daily MACD has now dipped within negative territory denoting regain of downward momentum.

Holding below 152, there is risk of a deeper pullback towards the lower limit of the multi-month channel near 146.30/146 and 145.10.

EUR/USD: It is marginally relevant for the Euro whether ECB interest rates rise or fall – Commerzbank

EUR/GBP: A close under 0.8660 could unlock 0.8630 or even 0.8600 – ING

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