Yen analysis – USD/JPY resistance close by, EUR/JPY higher


Yen analysis – USD/JPY resistance close by, EUR/JPY higher


Via Credit Suisse on USD/JPY, noting some resistance close by:

  • “Should strength extend above 107.06 we see resistance next at the late July high at 107.53, then the 50% retracement at 107.95, with more important resistance seen not far above at the 200-day average and downtrend at 108.13/17.”

And, CS on EUR/JPY

  • suggests the trend should stay directly higher with resistance seen at the April 2019 high at 126.84 next, with tougher resistance then seen next at 127.52/72 – the 2019 high and potential downtrend from late 2014
  • We would expect the 2019 high to prove a tougher initial barrier and would expect an initial pullback from here. A direct break though can see resistance next at the 61.8% retracement of the fall from 2018 at 128.67
  • Near-term support moves to 125.76, then 125.51, the 124.95/87 which ideally holds to keep the immediate risk higher A break can see a setback to 124.50/33, but with fresh buyers expected here

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