USD/JPY is virtually flat for the week following a rebound from the 109.11 low on Wednesday. Economists Société Générale expect a break of either 108.72 or 110.45 to see the next direction leg established.
Sideways price action
“USD/JPY has experienced a directionless price action since July.”
“Low formed in August at 108.72 is crucial support.”
“Break above recent high of 110.45 is essential to affirm an extended up-move.”
