USD/JPY set to move out of sideways trading? - TDS

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FXStreet (Guatemala) - Analysts at TD Securities noted the technical conditions surrounding USD/JPY.

Key Quotes:

"USD/JPY is nudging back towards the upper end of the recent trading range and putting “ichimoku” cloud resistance under a little pressure at writing but there is little sign that the broader, sideways trading range in place over the past few months is poised to break down."

"Short-term, we expect the USD to remain better supported and the lack of any real trend here (apart from sideways) in the past few months means that it will take a significant move—either above 122 or below 116 on a sustained basis—to imply that a broader move is unfolding."

"We remain longer-term USD/JPY bulls but we think range trading continues for now."
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