- USD/JPY: At risk of one more down leg toward 140.20/139.60 on failure to defend 200-DMA near 143.40 – SocGen
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12 tháng 1 2024
USD/JPY: At risk of one more down leg toward 140.20/139.60 on failure to defend 200-DMA near 143.40 – SocGen
USD/JPY retreats after rejecting the 50-Day Moving Average at 146.41 on Thursday. Economists at Société Générale analyze the pair’s technical outlook.
Break above 146.60/147.40 essential for confirming extension in rebound
USD/JPY has rebounded sharply after forming interim low near 140.20 late last month. It has reclaimed the 200-DMA and approached October low of 146.60/147.40 which is an interim resistance zone. An initial pullback is taking shape.
It would be interesting to see if the pair can defend the 200-DMA near 143.40. Failure would mean risk of one more down leg towards 140.20/139.60.
Break above 146.60/147.40 is essential for confirming extension in rebound.
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