29 Apr 2015
USD/JPY likely to extend to 120.10-120.80 zone – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Dhwani Mehta, expects USD/JPY to push higher from its side-trend and aim towards 120.10 and even 120.50/80 area.
Key Quotes
“We expect USD/JPY to break its side trend and finally rise to 120.10 levels and beyond that may test 120.50/80 resistance zone.”
“To the downside, 118.80/60 support zone is expected to hold. In case of a breach of those levels, the pair may extend decline to 118.30. A break below that level, USD bears are likely to take over, putting an end to the recent bullish momentum seen in USD/JPY, drowning the pair to 117‐116.50 levels.”
Key Quotes
“We expect USD/JPY to break its side trend and finally rise to 120.10 levels and beyond that may test 120.50/80 resistance zone.”
“To the downside, 118.80/60 support zone is expected to hold. In case of a breach of those levels, the pair may extend decline to 118.30. A break below that level, USD bears are likely to take over, putting an end to the recent bullish momentum seen in USD/JPY, drowning the pair to 117‐116.50 levels.”