Back
14 Apr 2015
USD/JPY remains a buy for 124.00 – RBS
FXStreet (Barcelona) - According to Dmytro Bondar, Technical Analyst at RBS, USD/JPY corrections towards 118.00 offer buying levels for 124.00 and above.
Key Quotes
“The USD/JPY has been in its correction phase after reaching my target of 121.00. It has also triggered a bullish flag on the daily chart, indicating there will be more upside after correction is completed.”
“As a confirmation, the daily MACD has turned bullish. This implies that any corrections will probably be limited by the 118.00 support level, which we will see as buying opportunity for 121.00 and 124.00 onto potentially higher targets (130.00).”
Key Quotes
“The USD/JPY has been in its correction phase after reaching my target of 121.00. It has also triggered a bullish flag on the daily chart, indicating there will be more upside after correction is completed.”
“As a confirmation, the daily MACD has turned bullish. This implies that any corrections will probably be limited by the 118.00 support level, which we will see as buying opportunity for 121.00 and 124.00 onto potentially higher targets (130.00).”