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Daily technical outlook for USD/JPY: Societe Generale

Monday, February 16, 2015 10:58 AM UTC

Quotes from Societe Generale Cross Asset Research:

-USD/JPY is hovering close to upper limit of the triangle within which it has been evolving since last two months. A re-test of the upper part of consolidation at 120.70/85 is not ruled out.

-However, with monthly indicator close to resistance, the upside appears to be capped. Only a break above 120.70/85 will mean extension in uptrend.

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Daily technical outlook for USD/JPY: Societe Generale

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