Back
22 Mar 2013
Forex Flash: USD/JPY looks bullish ahead - Nomura
FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective.
He notes that spot is down on the week and he is maintaining his bullish outlook. Looking at his daily chart he notes that RSI has reached levels where recently spot has bottomed out. He writes, “With bandwidth stalling, it suggests spot is likely to range (rather than breakout lower). The 20D SMA is also providing downward support. Our target is 96.00 (the high over the past few days).
He notes that spot is down on the week and he is maintaining his bullish outlook. Looking at his daily chart he notes that RSI has reached levels where recently spot has bottomed out. He writes, “With bandwidth stalling, it suggests spot is likely to range (rather than breakout lower). The 20D SMA is also providing downward support. Our target is 96.00 (the high over the past few days).