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USD/JPY headed towards 121.00 - RBS

FXStreet (Guatemala) - Analysts at RBS gave a long-term bullish technical picture around the USD/JPY.

Key Quotes:

“The USD/JPY has approached my key target of 119.10, but did not reach it and indicated it may correct right from the current levels (in fact the whole area of 108.80 – 109.10 proved to provide a tough resistance)”.

“Therefore, I favour taking profits on the trade of being long USD/JPY (published 14 Oct 2014) from the level of 105.52 at the current level (117.94) amid correction possibility”.

“However the long-term view is still USD favourable towards 121.00 and above”.

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