USD/JPY to push higher towards the 117.10/117.40 area – SocGen

USD/JPY is unfolding a pause in its up move after forming a double top at 116.35. The pair is staying relatively quiet near 115.50 and analysts at Société Générale expect USD/JPY to see further gains towards the 117.10/117.40 region.

Near-term support located at 113.45

“A large downside is not envisaged. Neckline at 113.45 is near-term support.”

“Defending this, the up move could persist towards a multiyear trend line at 117.10/117.40.”