FXStreet (Barcelona) – Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank, sees upside potential for USD/JPY on a break above the fibo resistance at 123.80.
Key Quotes
“USDJPY short-term technicals: neutral-bullish—USDJPY has already retraced more than half of Wednesday’s decline, with further gains expected on a break above the 61.8% Fibo at 123.80. Support has held at the 21 day MA (122.75), and we see limited resistance ahead of 124.20.”
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