Forex Flash: USD/JPY looks Technically bullish ahead – Nomura

FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a technical look at USD/JPY for the week ahead and has a bullish outlook.

Looking at his daily chart he begins by noting that spot is up on the week and he is keeping his bullish view. First, he notes that spot broke through the key 100 level and also broke the upper Bollinger band. Further, the RSI has also risen, suggesting momentum is on the upside and is close to overbought territory. He sees that bandwidth has also expanded, indicating we are in a breakout phase. His target is 102.