22 Dec 2014
Credit Suisse: Expect USD/JPY to target 119.90 levels - eFXnews
FXStreet (Barcelona) - The eFXnews Team notes that Credit Suisse maintains its long USD/JPY outlook, targeting 119.90, expecting the current strength to extend further.
Key Quotes
“USDJPY has extended its recovery and pushed above price resistance at 119.01/08. We look for an extension of strength here to test price and 61.8% retracement resistance at 119.57, above which is needed to suggest the correction is over for strength back to 119.92. Through this latter level can then target 121.00, followed by a challenge of the highs at 121.86.”
“Near-term support is seen at 118.59, followed by 117.83 Below 116.82 is needed to see weakness back towards 116.31/26.”
“CS maintains a long USD/JPY from 116.50 targeting 119.90.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“USDJPY has extended its recovery and pushed above price resistance at 119.01/08. We look for an extension of strength here to test price and 61.8% retracement resistance at 119.57, above which is needed to suggest the correction is over for strength back to 119.92. Through this latter level can then target 121.00, followed by a challenge of the highs at 121.86.”
“Near-term support is seen at 118.59, followed by 117.83 Below 116.82 is needed to see weakness back towards 116.31/26.”
“CS maintains a long USD/JPY from 116.50 targeting 119.90.”
This content has been provided under specific arrangement with eFXnews.