Target 104/104.45 If 100 Holds, Target 95/94.80 If 100 Breaks – SocGen
From the technical analysis team at Societe General:
In June, USD/JPY tested a multi-year descending trend and graphical levels at 100, which is also the 50% retracement of the 2011-2015 up move. Last month, it formed a hammer, stressing 100 as an important level.