Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Jan 11 - 02:55 PM

USD/JPY: A Large Bullish Wedge Reversal In The Making Targeting 104.77 Ahead Of 105.93 - Credit Suisse

By eFXdata  —  Jan 11 - 01:30 PM

Credit Suisse discusses USD/JPY technical outlook and adopts a bullish bias in the near-term.

"We continue to look for the formation of a larger bullish “wedge” reversal with resistance seen at 104.37/47 next, then more important resistance from the top of the “wedge” at 104.59/77. Above here is needed to see a bull “wedge” finally confirmed to mark a more important reversal higher to open up a move to 105.68 next, with scope for the 200 -day average at 105.93," CS notes.

"Support moves to 103.76 initially, with 103.61 now ideally holding to keep the immediate risk higher. Below can see a retreat back towards 102.94, but with fresh buyers expected ahead of here," CS adds. 

Source:
Credit Suisse Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2021 eFXdata · All Rights Reserved
!