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26 Jan 2015
Credit Suisse: Long USD/JPY, target 119.95 – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares that Credit Suisse maintains a bullish view for USD/JPY, with CS suggesting going long on the pair and targeting 119.95 levels.
Key Quotes
“The immediate spotlight stays on 118.89/96, above which is needed to see scope for 119.81/120.00.”
“USDJPY remains capped below the recent highs at 118.89/96. A break above here is needed to resolve the range higher for strength towards the price and potential downtrend resistance at 119.81/120.00, where we would expect selling to show.”
“A direct overshoot though can see a move for 120.83/76, followed by the 2014 peak at 121.86.”
“Near-term support shows at 117.25/18. Below 116.93/85 is needed to see further weakness for 115.86, ahead of pivotal support at 115.57/46 which we would look to ideally hold. Strategy: Long at 117.80, stop below 117.00, for 119.95.”
“CS maintains a long USD/JPY from 117.80 targeting 119.95.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The immediate spotlight stays on 118.89/96, above which is needed to see scope for 119.81/120.00.”
“USDJPY remains capped below the recent highs at 118.89/96. A break above here is needed to resolve the range higher for strength towards the price and potential downtrend resistance at 119.81/120.00, where we would expect selling to show.”
“A direct overshoot though can see a move for 120.83/76, followed by the 2014 peak at 121.86.”
“Near-term support shows at 117.25/18. Below 116.93/85 is needed to see further weakness for 115.86, ahead of pivotal support at 115.57/46 which we would look to ideally hold. Strategy: Long at 117.80, stop below 117.00, for 119.95.”
“CS maintains a long USD/JPY from 117.80 targeting 119.95.”
This content has been provided under specific arrangement with eFXnews.