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23 Mar 2016
USD/JPY: bulls hunting down 114.50/155.00 - Scotiabank
Analysts at Scotiabank explained the technical conditions surrounding USD/JPY.
Key Quotes:
"The MACD has turned bullish and the RSI appears set to make a near term break above 50. The 9 day MA (112.59) has been breached, shifting the focus to the 21 day MA around 113.
We look to further gains and anticipate a test of resistance in the 114.50-115 range. Such a break would open up the potential for a rally to 117.50 and 120."
Key Quotes:
"The MACD has turned bullish and the RSI appears set to make a near term break above 50. The 9 day MA (112.59) has been breached, shifting the focus to the 21 day MA around 113.
We look to further gains and anticipate a test of resistance in the 114.50-115 range. Such a break would open up the potential for a rally to 117.50 and 120."