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- USD/JPY to see a significant rise over coming years toward 150 on a break past 127.33 – Credit Suisse
USD/JPY to see a significant rise over coming years toward 150 on a break past 127.33 – Credit Suisse
USD/JPY is seeing a test of long-term price and ‘neckline’ resistance at 125.86/127.33. A break above here would mark a secular change of trend higher that could eventually see the market test 150 over the coming years, analysts at Credit Suisse report.
USD/JPY may be close to establishing a multi-year base
“A sustained break above the 125.86 high of 2015 and then ‘neckline’ resistance at 127.33 though would suggest we have seen the completion of a secular base to suggest we should see a significant further rise over the coming years.”
“Immediate resistance on a break would be seen at the 78.6% retracement of the 1998/2011 decline at 132.20, ahead of the 2002 high at 135.20.”
“Big picture, we would see scope for a rise into the 147.62/153.01 zone over the coming years should the base be confirmed. We would note though the ‘measured base objective’ would imply significantly higher levels than this.”
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