17 Mar 2015
Remain long USD/JPY – GrowthAces
FXStreet (Barcelona) - The GrowthAces Research Team remains long on USD/JPY, explaining that both macros and technicals support an upside climb for the pair, targeting 123.55 levels.
Key Quotes
“We expect USD/JPY to rise in the coming days. The BOJ maintained its view of moderate economic expansion and lowered inflation outlook. The Fed, in contrast, is likely to take out “patient” from its statement on Wednesday paving the way for a possible rate hike in June.”
“We stay long at 121.10. Technical situation of the chart is also supportive to the USD/JPY bulls. The tankan and kijun lines are positively aligned, highlighting the underlying upside potential.”
“Significant technical analysis' levels:
Resistance: 121.53 (session high Mar 17), 121.57 (high Mar 13), 121.67 (high Mar 12)
Support: 121.09 (low Mar 16), 120.66 (low Mar 12), 120.62 (low Mar 9)”
“USD/JPY: long at 121.10, target 123.55, stop-loss 119.60, risk factor *”
Key Quotes
“We expect USD/JPY to rise in the coming days. The BOJ maintained its view of moderate economic expansion and lowered inflation outlook. The Fed, in contrast, is likely to take out “patient” from its statement on Wednesday paving the way for a possible rate hike in June.”
“We stay long at 121.10. Technical situation of the chart is also supportive to the USD/JPY bulls. The tankan and kijun lines are positively aligned, highlighting the underlying upside potential.”
“Significant technical analysis' levels:
Resistance: 121.53 (session high Mar 17), 121.57 (high Mar 13), 121.67 (high Mar 12)
Support: 121.09 (low Mar 16), 120.66 (low Mar 12), 120.62 (low Mar 9)”
“USD/JPY: long at 121.10, target 123.55, stop-loss 119.60, risk factor *”