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Credit Suisse: USD / JPY short rise

-The spiral of lower movements continues, but a daily break of below 103.77 Fibo is required 76.4%
-Medium-term recovery attempts are likely to be trapped by the kijun periodic average of around 104.47
-EUR / JPY range is between 122.85 -123.18
-EUR / USD seems more bullish, as the Ichimoku cloud provides solid support
-Credit Suisse: USD / JPY – a clean and steady break below 104 will open the door to 101.59
-The bank reviews and comments on the technical view of the USD / JPY cross and sees a prospect of moving to 101.59 with a prolonged break below 104.
-The bank also said that the market is trying again to remove the key price pivot 104.002 and potential support for the trend from late July around 103.20 / 05 and then more importantly at 101.59 / 18 – the bottom of March is not good for now temporarily and trend support. The resistance shifts around 104.25 respectively

This image has an empty alt attribute; its file name is USDJPY-2.png

Source: Bloomberg Pro Terminal
Graphics: Used with permission from Bloomberg Finance L.P.

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 Junior Trader Kameliya Ivanova


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