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USD/JPY expected to continue holding above 105.52 - RBS

FXStreet (Łódź) - Dmytro Bondar, Technical Analyst at RBS suggests that USD/JPY should continue trading above the key support level of 105.52.

Key quotes


"The USD/JPY has accomplished its correction, which we anticipated after reaching the 109.30 target, as our key support level of 105.52 held on close and dips offered buying opportunities for 112.00 and more upside targets."

"The level was not only 50% swing extension of the 2013 impulse wave and 2013 – 2014 high lie, but also the Ichimoku cloud support."

"I believe the pair will continue to hold above 105.52 and Ichimoku cloud, as our targets of 109.30 and 112.00 remain intact. A break through the cloud cancels the view."

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