Forex Flash: USD/JPY looks technically bullish for the week ahead – Nomura
Forex pairs in this Article »
USD/JPY
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at USDJPY from a purely technical perspective.
Looking at his daily chart, Amen starts by setting his weekly target at 83.40 where the upper Bollinger band sits. He notes that spot is higher on the week and as such he has maintained his bullish view. RSI (14) has ticked back into overbought territory suggesting that momentum remains strong. Also, Bollinger bandwidth has started to rise again, suggesting that the upward breakout is not yet complete and there could be more juice in the move higher. He highlights the failure to close below 82 also suggests strong support there.
Looking at his daily chart, Amen starts by setting his weekly target at 83.40 where the upper Bollinger band sits. He notes that spot is higher on the week and as such he has maintained his bullish view. RSI (14) has ticked back into overbought territory suggesting that momentum remains strong. Also, Bollinger bandwidth has started to rise again, suggesting that the upward breakout is not yet complete and there could be more juice in the move higher. He highlights the failure to close below 82 also suggests strong support there.
Free Annual Reports
