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SEB: USD/JPY target at 107.30 if 106.30 taken out - eFXnews

FXStreet (Łódź) - The eFXnews team obserrve that the SEB sees USD/JPY price action as persistently bullish and expects 107.30 to be the next target level.

Key quotes

"Conditions are stretched, but no currency can escape the mighty dollar."

"If this pair is allowed to break a medium-term 261.8% Fibo projection ref at 106.30 and spend some time at or above it, realign for extension towards the next set of refs at 107.25/35."

"The Fibo-adjusted 8day 'Tenkan-Sen', now at 105.00 provides nearby dynamic support."

"Current intraday stretches are located at 105.70 & 106.45."

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