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11 Mar 2013
Forex Flash: USD/JPY technicals point higher - Nomura
Nomura Strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective and believe it looks bullish ahead.
Amen notes that spot is up on the week and he is flipping to a bullish view. Viewing his daily chart he sees that bandwidth is expanding which indicates that we are still in a breakout. Further, he notes that spot has repeatedly tested the upper Bollinger band which supports the break out view. he finishes by writing, “RSI is rising, indicating that short term momentum is on the upside. Our target is 97.00, which is above Friday‟s high.”
Amen notes that spot is up on the week and he is flipping to a bullish view. Viewing his daily chart he sees that bandwidth is expanding which indicates that we are still in a breakout. Further, he notes that spot has repeatedly tested the upper Bollinger band which supports the break out view. he finishes by writing, “RSI is rising, indicating that short term momentum is on the upside. Our target is 97.00, which is above Friday‟s high.”