12 Feb 2015
Credit Suisse: JPY resuming its bear trend – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Credit Suisse’s shares key technical levels for USD/JPY, with CS favouring a bullish trend for the pair.
Key Quotes
“The ongoing surge in USD/JPY strength has extended above the resistance from the top of the "triangle" at 119.14/25.”
"We favour the completion of a "triangle” continuation pattern to see the core trend turn bullish again for strength to 120.83 initially, ahead of a retest of 121.86,"
"Above the latter can signal a resumption of the medium-term bull trend for the 2007 peak at 124.16, potentially 125.70. Near-term support is placed at 118.01, with 116.64 needing to hold to keep the risk bullish.”
Key Quotes
“The ongoing surge in USD/JPY strength has extended above the resistance from the top of the "triangle" at 119.14/25.”
"We favour the completion of a "triangle” continuation pattern to see the core trend turn bullish again for strength to 120.83 initially, ahead of a retest of 121.86,"
"Above the latter can signal a resumption of the medium-term bull trend for the 2007 peak at 124.16, potentially 125.70. Near-term support is placed at 118.01, with 116.64 needing to hold to keep the risk bullish.”