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USD/JPY: Break above 114.73/92 to open up downtrend from 1990 at 117.00 – Credit Suisse

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USD/JPY is set to gold assist at 113.87/76. With an essential base in place, analysts at Credit Suisse seem for an eventual clear spoil above key resistance at 114.73/92 for electricity to the long-term downtrend from April 1990 at 117.00/01.

Support at 113.87/76 to hold
“With a principal base in place, we proceed to appear for clear and sustained damage in due route above key resistance at 114.70/92. This need to then see a resumption of the core uptrend with resistance then considered subsequent at 115.51 and then the long-term downtrend from April 1990 at 117.00/01.”

“Whilst we would anticipate a sparkling segment of consolidation to emerge from the 117.00 level, the large photograph we proceed to seem for an eventual cross to 122.90/123.00.”

“Near-term help from the 13-day exponential common and fee guide at 113.87/76 ideally nevertheless holds. A wreck would warn of a recoil returned to 112.76/40, however with clean shoppers predicted here.”

 

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