8 Apr 2015
USD/JPY about to resume its bull-trend- BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, expects USD/JPY to see a pullback towards 118.78 before resuming its bull-trend.
Key Quotes
“For $/¥, the 4m range trade looks to be in its final throes. While allowing for one last pullback toward 118.78 (4m Triangle support), pullbacks should be bought.”
“Upside targets are seen to 124.16/124.59, ahead of 128.45. Below 118.33 (Mar-26 low) invalidates the bullish setup.”
Key Quotes
“For $/¥, the 4m range trade looks to be in its final throes. While allowing for one last pullback toward 118.78 (4m Triangle support), pullbacks should be bought.”
“Upside targets are seen to 124.16/124.59, ahead of 128.45. Below 118.33 (Mar-26 low) invalidates the bullish setup.”