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SocGen anticipates a temporary pullback in USD/JPY towards 145, followed by a potential rally towards the significant resistance level near 152.
Key Points:
Recent Performance:
Technical Indicators:
Potential Pullback:
Resistance Levels:
Conclusion:
SocGen suggests that USD/JPY is likely to experience a brief pullback to the 145 level before potentially resuming its upward trajectory towards the 152 resistance level. Monitoring the 50-DMA will be crucial, as maintaining this support could signal further bullish momentum for the currency pair.
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This article was written by Adam Button at www.forexlive.com.
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