1 May 2015
USD/JPY bullish target at 124.59 – BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, views that the uptrend is set to resume for USD/JPY for 124.59, and above it 128.45.
Key Quotes
“Evidence says that the bull trend of the past 4+ months is drawing to a conclusion and the long-term uptrend is set to resume for 124.59, ahead of 128.45. Below 118.33 invalidates this view and points to continued range-trading, while those awaiting additional price confirmation need a break of 120.86 (the Apr-13 high).”
Key Quotes
“Evidence says that the bull trend of the past 4+ months is drawing to a conclusion and the long-term uptrend is set to resume for 124.59, ahead of 128.45. Below 118.33 invalidates this view and points to continued range-trading, while those awaiting additional price confirmation need a break of 120.86 (the Apr-13 high).”