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Thomson Reuters
Jul 31 - 05:00 PM
USD/JPY: Bullish S/T; A Daily Close Above 111.35 Confirms Bottom Formation For 118 Target - ING
First appeared on eFXplus on Jul 31 - 03:30 PM

ING discusses USD/JPY technical outlook and maintains an 'UP'rating in the near-term (see here).

"A close above the horizontal resistance around 111.35 will confirm this bottoming scenario.

The completed bottom formation is suggesting a price target of around 118.00 with overhead horizontal resistance coming in between 114.45 and 115.50.

We keep our rating unchanged at Up'" IN argues. 

Source:
ING Research/Market Commentary

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