USD/JPY: Uptrend likely to extend on a break past 152.00 – SocGen

USD/JPY is trading sideways near 151.35. Economists at Société Générale analyze the pair’s outlook.

150.20 is first support

USD/JPY is in vicinity to the upper limit of its range since October 2022 near 152.00 which has remained a crucial graphical level.

Daily MACD is anchored within positive territory denoting prevalence of upward momentum.

The pair has evolved within a brief pause since last week; the lower end of this consolidation at 150.20 is first support.

In case the pair overcomes 152.00, the uptrend is likely to extend. Next potential objectives could be located at projections of 153.10 and 155.50.