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Trader, analyst and instructor with a 6-year experience

Credit Suisse: buy USD/JPY on dips

Credit Suisse maintains a LONG position on USD/JPY from 107.50, with a stop at 106.55 and a target of 110.60. Analysts note that the price has managed to hold above the major support at 106.60 – 38.2% Fibonacci retracement of the May/October 2014 rise.

However, a break below the 106.60 mark will open the way for further losses to 105.60. Analysts look for buying interest to return on these levels. Major resistance is seen at 108.20. 

JPY
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