Forex Flash: USD/JPY to continue its rally – Nomura
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USD/JPY
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at USDJPY from a purely technical perspective.
Amen starts by highlighting his weekly target of 90.50, which sits just above the upper Bollinger Band. Noting the spot is up on the week, Amen intends to maintain his bullish outlook. Looking on a daily chart he sees that RSI (14) remains in overbought territory, indicating that momentum is for the upside. Bollinger bandwidth is relatively static, suggesting that the move lis likely to be more of a grind than a big move.
Amen starts by highlighting his weekly target of 90.50, which sits just above the upper Bollinger Band. Noting the spot is up on the week, Amen intends to maintain his bullish outlook. Looking on a daily chart he sees that RSI (14) remains in overbought territory, indicating that momentum is for the upside. Bollinger bandwidth is relatively static, suggesting that the move lis likely to be more of a grind than a big move.
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