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- EUR/JPY to advance considerably towards the 132.55 mark – Credit Suisse
EUR/JPY to advance considerably towards the 132.55 mark – Credit Suisse
FXStreet reports that analysts at Credit Suisse discuss EUR/JPY prospects.
“EUR/JPY has surged higher again for a move with ease above the ‘measured base objective’ and 61.8% retracement of the 2018/2020 bear trend at 128.67/70, leaving the market on course for its “measured triangle objective” at 130.13/16.”
“Although a fresh pause should be allowed at 130.13/16, we see no reason not to look for this to be cleared also to open the door to a move to 131.26 next and then 132.55 – the 78.6% retracement of the entire 2018/2020 bear trend. With the key September 2018 high not far above at 133.13, we would then look for a more important cap here and consolidation.”
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