USDJPY: Upside bubble is emerging on the daily chart - Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that an upside bubble is emerging on the USDJPY daily chart, considering the increase in the daily volatility and the buy signals on the daily indicators.

Key Quotes

“This bullish technical pattern should support the cross, all the more so as the weekly indicators have turned around.”

“We consequently favour a larger rally towards 109- 109.20 (50-week moving average). The break would provide fresh bullish impetus to 111.50 and 112.80 (monthly parabolic). The supports stand at 106.80, at 105.70-105.90, at 104.25 and at 102.77.”