#USDJPY @ 129.313 : The short-term risk quickly looks to be turning lower again – Credit Suisse
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
USD/JPY quickly turned back lower yesterday. The focus is back onto Credit Suisse’s 127.53/27 prior core objective, which now looks set to be broken more imminently.
“With US Yields failing to follow through on the recent reversal back higher, the short-term risk for USD/JPY quickly looks to be turning lower again, in line with our broader negative view.”
“Below 127.53/23 then would open up a move to next support at 126.36 and eventually the 61.8% retracement of the 2021/2022 uptrend at 121.44.”
“Resistance is seen at 130.36, which is the key 21-day exponential average, then 131.12, before the recent high at 131.58. A break above here would suggest a deeper recovery to 132.28, potentially 132.88, where we would look for a cap if reached.”
[/s2If]
Join Our Telegram Group
