USD/JPY to extend the up move on a break above 116.35 – SocGen

USD/JPY is experiencing a pause after forming a double top near 116.35. A break above here would clear the way for further gains towards 117.10/117.40, economists at Société Générale report.

Neckline at 113.45 is critical support

“Neckline at 113.45 is crucial support. A large downside is not envisaged.”

“Crossing 116.35 will take the pair towards a multiyear trend line at 117.10/117.40.”