SG's head of FX and money-market sales at Societe Generale in Tokyo
- Says USD/JPY may have more upside
- Cites it breaking a three-year descending trendline, break through of this resistance is "significant"
- Nominates target 200-week moving average around 113.26
(ps 200 week MA is not my cup of tea so I won't comment on this)
More:
- Warns "risk of being caught wrong-footed by betting that USD/JPY won't rise"
- a concern that it wasn't the dollar-based reason that boosted the greenback on Wednesday
- USD/JPY range revised higher
- 110 looks to be a strong support
SG comments via Bloomberg