- Analytics
- News and Tools
- Market News
- EUR/JPY to see a test of the 133.13/49 key highs on a break above 132.55 - Credit Suisse
EUR/JPY to see a test of the 133.13/49 key highs on a break above 132.55 - Credit Suisse
FXStreet reports that EUR/JPY weakness has been well supported above its 13-day exponential average to leave the spotlight firmly back on 132.55 - the 78.6% retracement of the 2018/2020 bear trend. Economists at Credit Suisse look for a clear break above here for a test of price resistance from the key highs of April and September 2018 at 133.13/49.
“A closing break above the 78.6% retracement of the entire 2018/2020 bear trend at 132.55 can bring the brief consolidation to an end to reinforce the broader uptrend, with resistance seen next at the September 2018 highs at 133.12/13, potentially as far as the 133.49 high of April 2018, with another temporary cap expected for now in this 133.13/49 zone.”
“We eventually see scope for a move to the 137.50 2018 high.”
“Near-term support moves to 132.23/13, below which can see a fall back to 131.99, but with 131.67 now ideally holding further weakness.”
© 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
