- Analytics
- News and Tools
- Market News
- EUR/JPY to see a dramatic acceleration lower, 127.00 level at risk – Credit Suisse
EUR/JPY to see a dramatic acceleration lower, 127.00 level at risk – Credit Suisse
EUR/JPY continues to fall aggressively for a retest of the December lows at 127.51/38. Economists at Credit Suisse expect the pair to break below here and test of channel support at 127.04.
Resistance at 129.24 to cap
“We continue to look for a move below the December lows at 127.51/38 in due course to retest the medium-term nine-month channel bottom, today seen at 127.04. A fresh hold here will be looked for, but with the broader risk seen lower and an eventual break can clear the way for a test of support seen next at the 38.2% retracement of the 2020/2021 bull trend at 126.59.”
“Resistance is seen at 128.38 initially, with 129.19/24 ideally capping to keep the immediate risk lower. Above can see a recovery back to 129.79, with the 200-day average and price resistance at 130.31 ideally now capping any further strength.”
© 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
