18 Nov 2013
Flash: USD/JPY on track for a retest of 101 plus - TDS
FXstreet.com (Barcelona) - Upside risks on USD/JPY have been realized a little sooner than we expected, notes Shaun Osborne,
Chief FX Strategist at TDS, who expects an attack towards 101.00 near term.
Key Quotes
"Gains through the top of the consolidation triangle alongside a push through “cloud chart” resistance put USD/JPY on track for a retest of the 101+ area at least from here."
"We remain a little uncertain with regard to the longer-term outlook for the market but near-term risks are geared higher for the USD at least, we think."
"A monthly close above 100 or so has been elusive so far this year in this USD rally. If USD/JPY can achieve that before the end of the year, medium-to-long term prospects would improve strongly from a technical perspective."
Chief FX Strategist at TDS, who expects an attack towards 101.00 near term.
Key Quotes
"Gains through the top of the consolidation triangle alongside a push through “cloud chart” resistance put USD/JPY on track for a retest of the 101+ area at least from here."
"We remain a little uncertain with regard to the longer-term outlook for the market but near-term risks are geared higher for the USD at least, we think."
"A monthly close above 100 or so has been elusive so far this year in this USD rally. If USD/JPY can achieve that before the end of the year, medium-to-long term prospects would improve strongly from a technical perspective."