USD/JPY to enjoy a deeper, but only temporary recovery – Credit Suisse USDJPY Banks
USD/JPY extends its consolidation from 127.53/27, but analysts at Credit Suisse look for only a temporary floor.“We look for floor at 127.53/27 and a deeper recovery, given the large bullish divergence on short-term momentum, and our view that US Yields can see a short-term reversal back into their range. We suspect this rebound will prove only temporary though and we look for a sustained break below 127.27 and then the 126.
“We consider 131.58 to be the first key resistance level, with 132.88 a good fade zone. Ultimately, 134.78 is expected to hold.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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