USD/JPY: Bulls Hunting Down 114.50/155.00 - Scotiabank

USD/JPY: Bulls Hunting Down 114.50/155.00 - Scotiabank

23 March 2016, 19:32
Roberto Jacobs
0
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USD/JPY: Bulls Hunting Down 114.50/155.00 - Scotiabank

Analysts at Scotiabank explained the technical conditions surrounding USD/JPY.

Key Quotes:

"The MACD has turned bullish and the RSI appears set to make a near term break above 50. The 9 day MA (112.59) has been breached, shifting the focus to the 21 day MA around 113.

We look to further gains and anticipate a test of resistance in the 114.50-115 range. Such a break would open up the potential for a rally to 117.50 and 120."


(Market News Provided by FXstreet)

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