26 Nov 2014
USD/JPY headed towards 121.00 - RBS
FXStreet (Guatemala) - Analysts at RBS gave a long-term bullish technical picture around the USD/JPY.
Key Quotes:
“The USD/JPY has approached my key target of 119.10, but did not reach it and indicated it may correct right from the current levels (in fact the whole area of 108.80 – 109.10 proved to provide a tough resistance)”.
“Therefore, I favour taking profits on the trade of being long USD/JPY (published 14 Oct 2014) from the level of 105.52 at the current level (117.94) amid correction possibility”.
“However the long-term view is still USD favourable towards 121.00 and above”.
Key Quotes:
“The USD/JPY has approached my key target of 119.10, but did not reach it and indicated it may correct right from the current levels (in fact the whole area of 108.80 – 109.10 proved to provide a tough resistance)”.
“Therefore, I favour taking profits on the trade of being long USD/JPY (published 14 Oct 2014) from the level of 105.52 at the current level (117.94) amid correction possibility”.
“However the long-term view is still USD favourable towards 121.00 and above”.