USD/JPY to inch towards next potential resistance of 148-150 – SocGen

USD/JPY climbed to a fresh multi-decade high at 147.00 before going into a consolidation phase. Economists at Société Générale expect the pair to reach the 148-150 region.

Immediate support aligns at 145

“The USD/JPY pair is gradually inching towards next potential resistances of 148-150 representing the high of 1998, a multi-month channel band and projections for the move. A pullback is not ruled out after achievement of this zone.” 

“The upper end of the recent range at 145 and 143.50 are immediate support levels.”