USD/JPY on its way to 200-WMA around 113.25 – Societe Generale

Reuters reports comments from the Head of FX and money-market sales at Societe Generale in Tokyo, as he offers his view on the USD/JPY pair.

Key Headlines:

USD/JPY may have more upside.

Cites it breaking a three-year descending trend line, breakthrough of this resistance is "significant".

Nominates target 200-week moving average around 113.26.

Warns "risk of being caught wrong-footed by betting that USD/JPY won't rise".

a concern that it wasn't the dollar-based reason that boosted the greenback on Wednesday

USD/JPY range revised higher.

110 looks to be a strong support.