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Oct 10 - 09:48 AM
USD/JPY: Remains A Sell-On-Rallies Closer To 108.20/40 - Credit Suisse
First appeared on eFXplus on Oct 10 - 08:25 AM

Credit Suisse discusses USD/JPY tactical outlook and maintains a sell-on-rallies bias in the near-term.

"USD/JPY – Plentiful trade headlines keeping risk markets alert, with gyrations ensuring intraday positioning remains light and participants agile. USD/JPY exploring a 107.00/80 range and sense this is not the last we have seen of either parameter," CS notes. 

"Trading from a rally-selling standpoint – looking for closer to 108.20/40 to reinstate (more comfortable either fading sensationalist China headline), given how we resilient we have been (US equities & yields holding in well) – allowing to leverage vs. 108.50/109.00 broader band of resistance," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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