USD/JPY: Strong recovery looks to have run its course for now – Credit Suisse USDJPY Technical Analysis Banks
USD/JPY is expected to remain above the “neckline” to its base and 200-Day Moving Average at 137.51/136.62, analysts at Credit Suisse report.The strong recovery in USD/JPY looks to have run its course for now and we look for further near-term weakness in what we look to be a potentially lengthy ranging phase.
Big picture, we would look for a consolidation phase to be followed by an eventual move back to 145.00/12. An eventual break above here can see the ‘measured base objective’ at 148.57. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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