- Analytics
- News and Tools
- Market News
- USD/JPY to test key resistance at 104.59/77 – Credit Suisse
USD/JPY to test key resistance at 104.59/77 – Credit Suisse
FXStreet reports that analysts at Credit Suisse are seeing the formation of a larger bullish “wedge” reversal.
“USD/JPY extends its recovery as expected trend support from July, currently at 102.51 accompanied by a bullish RSI momentum divergence and has pushed above the December high and now also the 55-day average. This sees a small base complete to add weight to our view we are seeing the formation of a larger bullish ‘wedge’ reversal with resistance seen at 104.37/47 next, then more important resistance from the top of the ‘wedge’ at 104.59/77.”
“Above 104.59/77 is needed to see a bull ‘wedge’ finally confirmed to mark a more important reversal higher to open up a move to 105.68 next, with scope for the 200 -day average at 105.93.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
