FXStreet (Barcelona) – The bullish flag pattern seen on monthly charts suggest further upside potential towards 128, 130 and 135 for USD/JPY, according to Dmytro Bondar, Technical Analyst at RBS.
Key Quotes
“The USD/JPY reached my key target of 124.00, from where I don’t expect a major correction, as the pair has also formed a bullish flag pattern on the monthly chart, implying the upside pressure is likely to continue for the rest of 2015 and possibly into next year.”
“Level wise, the next key resistance stands at 128.00, then a minor one at 130.00 and ultimately a major resistance level and the final target from the bullish flag at 135.00. onto 130.00 and 135.00 expected.”
(Market News Provided by FXstreet)