- Analytics
- News and Tools
- Market News
- USD/JPY to turn back higher from the 111.84/66 support zone – Credit Suisse
USD/JPY to turn back higher from the 111.84/66 support zone – Credit Suisse
USD/JPY has broken below its range lows at 113.30/21. Nevertheless, economists at Credit Suisse expect key supports at 112.42/40 and particularly 111.84/66 to hold ahead of a renewed turn back higher.
Strongly bullish outlook
“USD/JPY has extended its pullback further this week but with a major base in place above 112.40, we maintain our view this is a temporary and healthy setback only.”
“We look for a move above 114.92 in due course for a test of the long-term downtrend from April 1990, currently at 117.00/02. It’s worth reiterating though the “measured base objective” is significantly above here at 122.90/123.00, however, this is very much a longer-term objective.”
“We see supports for the current pullback at 112.42/40, then 111.84/66, which includes the ‘neckline’, 55-day average and cluster of retracement supports, which we have a high degree of confidence will hold.”
© 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
