USD/JPY to advance nicely towards 117.10 on a break above 115.50 – SocGen

USD/JPY reached fresh multi-year tops above 115.00. Above March 2017 levels of 115.50, the pair will target the 116.50 mark, then 117.10, economists at Société Générale report.

Steady up move

“USD/JPY is approaching March 2017 levels of 115.50. An initial pullback is not ruled out, however, last week's low of 113.60 should cushion.”

“Beyond 115.50, next objectives are located at projections of 116.50/117.10.”