USD/JPY: Potential to rally as high as 117.80/118.60 – SocGen

USD/JPY is moving sideways around 114.50 after the pair snapped back from 114.70. Economists at Société Générale expect the pair to edge higher towards the 115.50 level, then 117.80/118.60.

Signals of down move are still not visible

“Signals of a pullback are still not visible; 110.80 should cushion.”

“Next potential objectives are at 115.50 and 2016 high of 117.80/118.60.”