FXStreet reports that USD/JPY edged lower on Monday, but economists at Credit Suisse look for a closing break above key resistance at 110.97, which would increase the risk of a major base. First support is seen at 110.43, then 110.03.
“USD/JPY remains well supported above key support from the 13-day exponential average and uptrend from January at 110.45/03 and we continue to look for a sustained break higher. This should then expose long-term and more important resistance, starting at 111.93 and stretching up to the 112.40 high of 2019.”
“Support moves to the aforementioned 13-day exponential average at 110.45/43, which we look to hold. Below can see a move back to the uptrend at 110.03, but only below 109.72 would warn of a top for a fall back to 109.31/19.”
© 2000-2022. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.