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Forex Flash: USD/JPY looks technically bearish - Nomura

Nomura Strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective.

He begins by noting that spot is close to flat on the week and he is retaining a bearish view. He sees that bandwidth has declined, indicating that spot is likely to continue moving in a range. Further he adds that with the daily 20 MA acting as upside resistance, it looks likely that it could retrace lower to the bottom part of the range. His target is 91.80, where the lower Bollinger band can be found.

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Forex Flash: Strong Swedish PMI numbers has given SEK a bid - Societe Generale

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