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#1 05-05-2015 09:18:02

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2593

USD/JPY: Goldman Sachs says pair has potential to climb towards 123.24

USD/JPY: Goldman Sachs thinks pair has potential to climb towards 123.24

According to Goldman Sachs forex strategists, the USD/JPY is about to break the top of a triangle formation, and they note upside potential for a test of 123.24.

"There seems to be an ABCDE figure in place, which suggests that the market is ready to follow a trend."

"The next upward level is the 61.8% of the decline between 10 and 26 March to 120.62. Above this point, the strongest resistance zone is between 121.85 and 122.04, at the tops of reached on 8 December and 10 March."

"In terms of classical technical analysis, an extrapolation of the break of the triangle implies a potential upside climb towards 123.24."

"Anything worth having is worth going for - all the way." - J.R. Ewing



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