Flash: USD/JPY on course towards 103.75 – ANZ

FXstreet.com (Barcelona) – According to Tim Riddell, Head of Global Markets Research at ANZ, despite the USD/JPY break may prove less dynamic than a standard triangle break, price looks to be on course to hit next target at 103.75.

Key Quotes

“Nevertheless, this should still trigger a retest of 2013’s 103.75 high and potentially a move to the longer term retracement level of 105.60 in 2014.”

“The style of current gains will also be critical in determining whether this break is merely allowing for a broader range defining to develop or whether it hails a return to the preceding uptrend. Therefore dips ought …read more