- Analytics
- News and Tools
- Market News
- USD/JPY to slide below 126.95 towards 125.10 as yen enjoys temporary relief – Credit Suisse
USD/JPY to slide below 126.95 towards 125.10 as yen enjoys temporary relief – Credit Suisse
Economists at Credit Suisse believe this first phase of JPY weakness has now come to a temporary end. Therefore, USD/JPY is expected to break support at 126.95 to mark a top for a fall to support next at 125.10.
A temporary phase of JPY strength
“With 10yr US bond yields rejecting major support at 3.21/3.26%, we look for 131.25/132.20 to cap for now for a correction/consolidation phase.”
“Support is seen at 126.95, beneath which should see a fall back to price support at 125.10. With the 23.6% retracement of the 2021/2022 rally seen not far below at 124.56 and with the strongly rising 55-day average also seen not far below here, we then look for a floor in this 125.10/124.56 zone. We would then look for a consolidation phase to develop ahead of an eventual move back to 132.20.”
© 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
