USD/JPY is approaching the 2023 high of 152.00. Economists at Société Générale analyze the pair’s technical outlook.
146.00/145.50 is a crucial support zone
USD/JPY defended the trend line drawn since 2022 at 140.20 resulting in a sharp rebound. It recently crossed above both 50-DMA and 200-DMA. Confluence of those MAs near 146.00/145.50 is a crucial support zone.
The pair is expected to head higher towards last year high of 152.00. If this is overcome, a larger uptrend can’t be ruled out towards next projections at 154.50/155.00.
Source: https://www.fxstreet.com/news/usd-jpy-to-head-higher-towards-last-year-high-of-15200-socgen-202402261557