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4 Jun 2015
USD/JPY: looking for a push towards 128.45 – BAML
FXStreet (Barcelona) - Maintaining a bullish outlook on USD/JPY, MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, forecasts a move towards 128.45 on a break above 124.69/125.00.
Key Quotes
“Despite the volatility in FX over the past several days, we remain impressed and bullish on $/¥. While there is potential (albeit small) for a deeper decline toward 123.40, the larger uptrend remains intact, absent a break of old Triangle resistance, now support, at 122.02/121.86.”
“We look for a test and sustained break of 124.69/ 125.00 resistance for a push toward 128.45.”
Key Quotes
“Despite the volatility in FX over the past several days, we remain impressed and bullish on $/¥. While there is potential (albeit small) for a deeper decline toward 123.40, the larger uptrend remains intact, absent a break of old Triangle resistance, now support, at 122.02/121.86.”
“We look for a test and sustained break of 124.69/ 125.00 resistance for a push toward 128.45.”