USD/JPY: Next hurdles located at 151.25 and last year high of 152/152.80 – SocGen

USD/JPY rebounds above 150. Economists at Société Générale analyze the pair’s outlook. 

148.85 must be breached to affirm a short-term decline

It is worth noting that daily MACD has been posting negative divergence since July denoting receding upward momentum however, signals of price break have not yet developed.

The recent pivot low of 148.85 is a crucial support. This must be breached to affirm a short-term decline.

The next potential hurdles are located at projections of 151.25 and last year high of 152/152.80.