USD/JPY to bounce toward 140.60 on a move above 138 – SocGen USDJPY Banks
climbed above 137.00 earlier in the day. If the pair overcomes 138.00, a short-term rebound is likely towards 140.60, economists at Société Générale report.“Daily MACD is in deep negative territory denoting the down move is a bit stretched. This is not a reversal signal however a brief bounce can’t be ruled out.”
“If the pair overcomes the steep channel band at 138.00, a short-term rebound is likely towards 140.60 with next hurdle at 142.50/142.80, the 50% retracement of the down move.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State Trooper Crashes Into Suspect's Camaro After 140 MPH Chase In Arkansas | CarscoopsThe officer claims he was attempting to stop his cruiser before hitting the incapacitated Chevrolet
Read more »
USD/JPY aims to recapture 137.00 as investors see Fed’s terminal rate above 5%The USD/JPY pair has picked strength after remaining sideways around 136.50 in the Tokyo session. The asset is aiming to hit the immediate resistance
Read more »
USD/JPY eyes establishment above 137.00 as anxiety soars ahead of Federal Reserve policyUSD/JPY is hovering around the critical hurdle of 137.00 in the early European session. The asset is aiming to shift its business profile above the af
Read more »
USD/JPY braces for 138.30 hurdle on firmer yields ahead of US inflation, FOMCUSD/JPY picks up bids to favor buyers around the 137.00 threshold as the cautious mood in the market underpins the US Dollar demand during early Monda
Read more »
Pairs in Focus This Week-USD/JPY, EUR/USD, AUD/USD, GBP/JPYGet the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of December 11th, 2022 here.
Read more »
Turns Out The Surreal Bending 'Ruyi Bridge' in China Is RealThe Ruyi bridge in China's Zhejiang province looks anything but real as it bends and twists 140 meters above the ground, but it's a wonder of engineering.
Read more »