Trader, analyst and instructor with a 6-year experience

Credit Suisse: buy USD/JPY on dips

Strategists at Credit Suisse point that USD/JPY has almost reached 107.50 - this is a potential trend line resistance from May 2013. There is a high chance to see a pullback from here, but the 106.80 support will likely hold. In the medium term the pair targets 109.35 and then 110.60/111.60 (50% Fibonacci of the 1998/2011 bear trend and Aug. 2008 peak). 

Trade signal: BUY LIMIT from 106.8, Take Profit 109.25, Stop loss 106.35 (open since Sep. 12)

Chart. Weekly USD/JPY

Scroll to top