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28 Jan 2015
USD/JPY remains in consolidation mode – RBS
FXStreet (Edinburgh) - Dmytro Bondar, Technical Analyst at RBS, sees USD/JPY still in a consolidative phase with the likeliness to break above and head to 124.00.
Key Quotes
“The USD/JPY has entered its correction phase from the 121.00 target, as we expected and suggested to use pullbacks to the 115.00 and potentially 112.31 support levels to re-load longs for 124.00 target”.
“I hold the same view, expecting the USD/JPY to remain in a corrective mode with a potential dip towards 112.31, but ultimately holding the support level and resuming its upside pressure to 124.00 and potentially higher targets”.
Key Quotes
“The USD/JPY has entered its correction phase from the 121.00 target, as we expected and suggested to use pullbacks to the 115.00 and potentially 112.31 support levels to re-load longs for 124.00 target”.
“I hold the same view, expecting the USD/JPY to remain in a corrective mode with a potential dip towards 112.31, but ultimately holding the support level and resuming its upside pressure to 124.00 and potentially higher targets”.