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Forex Flash: USD/JPY is technically bullish – Nomura

By FXstreet.com,  January 04, 2013, 10:35:00 AM EDT

FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective.

Noting that spot is up on the week, Amen has switched his outlook to bullish. He comments that Bollinger bandwidth is still expanding, suggesting that the upward breakout has not finished. RSI (14) is also well into overbought territory suggesting heavy upward momentum. He finishes by writing, "Also signs of reversion (such as doji) have been ignored by spot. Our target is 90.00 (important psychological level)."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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