Quotes from Societe Generale Cross Asset Research:
-USD/JPY has broken above multiyear descending channel and is likely to continue the uptrend towards 118, the 76.4% retracement of correction since 2002 highs (log).
-Weekly indicator is overstretched; however, it will take a break below 114/113 to signal retracement. For the day, 115.20is an immediate resistance.
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