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- USD/JPY to skyrocket towards the 123 level – Credit Suisse
USD/JPY to skyrocket towards the 123 level – Credit Suisse
USD/JPY continues its strong surge higher. In the view of analysts at Credit Suisse, the pair is set to soar as high as 123.00.
Support is seen at 118.47/37
“USD/JPY has cleared the 118.61/66 highs of 2018 with ease to further reinforce the existing large base from last year. Although a knee-jerk pullback should be allowed for, we maintain our core bullish with resistance seen next at 120.66/68 ahead of the 2016 high at 121.69 and eventually our ultimate objective still at 122.90/123.00.”
“Support moves higher to 119.08 initially, then 118.79, with 118.47/37 ideally holding to keep the immediate risk higher. Below can see a setback to 117.80/70, potentially the 13-day exponential average at 117.57, but with fresh buyers expected here.”
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