Back
13 Mar 2015
USD/JPY bullish whilst above 120.35, targeting 123 – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team believes that USD/JPY might make a run towards 123 levels in the short-term, with the bullish tone expected to hold as long as the pair trades above 120.35.
Key Quotes
“Dollar-Yen (121.45) is slow in rising past 122 towards 123, but the trend remains up in the near term while Support at 120.35 holds. Please note that we are looking for 123 in the relatively short term. The long-term Resistance at 123 is expected to hold.”
“The market will be looking at the BOJ Meeting on coming Tuesday for reasons to square Longs in Dollar-Yen. But, with Inflation ranging between 2.2-2.4%, there may not be any pressing need for the BOJ to change policy.”
Key Quotes
“Dollar-Yen (121.45) is slow in rising past 122 towards 123, but the trend remains up in the near term while Support at 120.35 holds. Please note that we are looking for 123 in the relatively short term. The long-term Resistance at 123 is expected to hold.”
“The market will be looking at the BOJ Meeting on coming Tuesday for reasons to square Longs in Dollar-Yen. But, with Inflation ranging between 2.2-2.4%, there may not be any pressing need for the BOJ to change policy.”