9 Dec 2014
Credit Suisse: Buy USD/JPY on dips – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Credit Suisse believes the immediate risk stays higher for the USD/JPY pair, expecting 122.22 levels initially, ahead of the 124.16 high of 2007.
Key Quotes
""Bigger picture, we suspect strength could potentially extend as far as the 124.16 high of 2007," CS projects."
""Support moves to 120.69, followed by 120.26/19. A break below the latter is needed to see further weakness towards 119.34," CS adds."
"In line with this view, CS entered a fresh long position today by buying the current dip from 120.70, targeting a move towards 123.90."
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Key Quotes
""Bigger picture, we suspect strength could potentially extend as far as the 124.16 high of 2007," CS projects."
""Support moves to 120.69, followed by 120.26/19. A break below the latter is needed to see further weakness towards 119.34," CS adds."
"In line with this view, CS entered a fresh long position today by buying the current dip from 120.70, targeting a move towards 123.90."
This content has been provided under specific arrangement with eFXnews.