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Jan 05 - 06:55 PM

USD/JPY: Next Support At 101.17; AUD/USD: Next Objective At 0.7825 - SocGen

By eFXdata  —  Jan 05 - 03:00 PM

Societe Generale summarizes the near-term technical outlook for USD/JPY and AUD/USD.

"USD/JPY has been unfolding a series of lower peaks and troughs since March 2020. It is expected to drift towards 102.50 with next support at last year low of 101.17. Recent high of 105.70 caps up move," SocGen notes. 

"AUD/USD has crossed above the consolidation during September – November 2020 leading to extension in uptrend. Next objectives are located at 0.7825 and monthly Ichimoku cloud near 0.8140," SocGen adds. 

Source:
Société Générale Research/Market Commentary

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