- Analytics
- News and Tools
- Market News
- USD/JPY: The risk turns lower with support seen at 108.19 - Credit Suisse
USD/JPY: The risk turns lower with support seen at 108.19 - Credit Suisse
FXStreet notes that USD/JPY has seen a further sharp fall after the repeated rejection of its falling 55-day average. Economists at Credit Suisse stay biased lower for support at the August low at 108.73 and more likely the 200-day average at 108.19/07.
“We see the risk lower still and we look for a clear break below 109.12 for a test of the 108.73 August low. Whilst a fresh hold will be looked for here at first, we suspect the overall roadmap for the market remains for a fall back to what we would look to be better support from the rising 200-day average and 38.2% retracement of the 2021 uptrend at 108.19/07.”
“Resistance is seen at 109.46/53 initially, with the immediate risk seen lower whilst below 109.75.”
© 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
