- Analytics
- News and Tools
- Market News
- USD/JPY set to test the downtrend from April 1990 at 116.80/85 – Credit Suisse
USD/JPY set to test the downtrend from April 1990 at 116.80/85 – Credit Suisse
USD/JPY has surged higher to start the year. Economists at Credit Suisse maintain a core bullish outlook for a test of the long-term downtrend from April 1990 at 116.83.
Support at 114.96 ideally holds
“A knee-jerk pullback should be allowed for following the strength yesterday but we expect the market to remain well supported ahead of a move to test the long-term downtrend from April 1990, now seen at 116.83.”
“Whilst we would expect to see a fresh phase of consolidation to emerge at the downtrend from April 1990 of 116.80/85, we look for a break higher post this for a challenge on the 118.61/66 highs of late 2016 and 2017.”
“Big picture, with 10yr US Bond yields also expected to establish a major base we look for an eventual rise to 122.90/123.00.”
“Near-term support moves to 115.90/81, then 115.68 which we look to ideally hold. A close below 114.96 though is needed to ease the immediate upside bias.”
© 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
