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Mar 29 - 02:55 PM

USD/JPY: Fresh Phase Of Consolidation Before Breaking Higher - Credit Suisse

By eFXdata  —  Mar 29 - 01:30 PM

Credit Suisse discusses USD/JPY technical outlook and sees a scope for a consolidation phase around current levels before breaking higher in due course.

"Whilst we continue to look for 109.76/85 to cap at first for a fresh phase of consolidation; we continue to look for a break higher in due course. This should then see resistance next at the long -term downtrend from October 2018, currently at 110.37 and eventually we think longer -term resistance, seen starting at 111.68/72," CS notes.

"Only below 108.33 would now see a top complete," CS adds.

Source:
Credit Suisse Research/Market Commentary

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