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Sep 07 - 06:55 PM

USD/JPY: “On Rocket Fuel”; Where To Target? - Credit Suisse

By eFXdata  —  Sep 07 - 03:00 PM

Credit Suisse discusses USD/JPY technical outlook and now targets 147.62/153.01 over the coming weeks.

"USDJPY completed a multi-year “secular” base in April this year and as a consequence we further raised our existing bullish call (from October 2021) to the “measured base objective” at 147.62/153.01," CS notes. 

"We very much viewed this as a long-term call that may possibly take years to achieve, so we have been amazed at the rapid ascent the currency pair has made. The latest surge higher though and break above the 140 psychological barrier further reinforces this aggressive uptrend and our bullish outlook," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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