2 May 2015
USD/JPY set to move out of sideways trading? - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted the technical conditions surrounding USD/JPY.
Key Quotes:
"USD/JPY is nudging back towards the upper end of the recent trading range and putting “ichimoku” cloud resistance under a little pressure at writing but there is little sign that the broader, sideways trading range in place over the past few months is poised to break down."
"Short-term, we expect the USD to remain better supported and the lack of any real trend here (apart from sideways) in the past few months means that it will take a significant move—either above 122 or below 116 on a sustained basis—to imply that a broader move is unfolding."
"We remain longer-term USD/JPY bulls but we think range trading continues for now."
Key Quotes:
"USD/JPY is nudging back towards the upper end of the recent trading range and putting “ichimoku” cloud resistance under a little pressure at writing but there is little sign that the broader, sideways trading range in place over the past few months is poised to break down."
"Short-term, we expect the USD to remain better supported and the lack of any real trend here (apart from sideways) in the past few months means that it will take a significant move—either above 122 or below 116 on a sustained basis—to imply that a broader move is unfolding."
"We remain longer-term USD/JPY bulls but we think range trading continues for now."