Dollar/yen topped the 114 level and with every pip, the pair records a new high for the year. Where next? Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch discusses USD/JPY technical outlook and flags a bullish pattern underway with a scope of 118.80 on a clear break of 114.45. “The weekly chart of USD/JPY has broken two thresholds of technical significance. Price action last week closed above the 200wk SMA for the first time in over a year and the weekly RSI is accelerating. Trend following conditions such as MACD and Ichimoku are in a bullish position. We see resistance at 114.45 and breaking through that opens a higher path to 118.60. Given our view on US rates (broadly bearish and to sell a rally) it may be right to wait for a dip in USD/JPY to position for further upside,” BofAML notes. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD/JPY Technical Analysis: USD/JPY bull rally goes on as bulls reach the 114.00 figure FX Street 4 years Dollar/yen topped the 114 level and with every pip, the pair records a new high for the year. Where next? Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch discusses USD/JPY technical outlook and flags a bullish pattern underway with a scope of 118.80 on a clear break of 114.45. "The weekly chart of USD/JPY has broken two thresholds of technical significance. Price action last week closed above the 200wk SMA for the first time in over a year and the weekly RSI is accelerating. Trend following conditions such as MACD and Ichimoku are in a bullish… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
