USD/JPY to see a deeper downtrend on failure to defend 130.40 – SocGen USDJPY Banks
met projections near 150/152 in October and has embarked on a steady pullback. A break under 130.40 would open up further losses towards 128, then 125.85/124.00, analysts at Société Générale report“The pair is now in vicinity to August trough near 130.40. An initial bounce is not ruled out however 138 is likely to cap.”
“Failure to defend 130.40 would mean a deeper downtrend. Next potential objectives could be at projections of 128 and 2015 levels of 125.85/124.00.”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.
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