USD/JPY witnessed a gradual decline for five consecutive sessions. Economists at Société Générale analyze the pair’s technical outlook.
Move beyond 142 would be essential for an extended up-move
The pair is now near key support at 138/137 which represents the upper limit of the previous multi-month consolidation. An early bounce is expected, however, and would be essential for an extended up-move beyond 142.
In case USD/JPY establishes below 137, the decline could extend towards 135.60 and projections of 134/133.80.
