USD/JPY TO ADVANCE NICELY TOWARDS THE 122.90/123.00 AREA – CREDIT SUISSE

USD/JPY has finally seen a resumption of its core bull trend. Analysts at Credit Suisse maintain a core bullish outlook with their ultimate objective still at 122.90/123.00.

SUPPORT AT 116.35/10 SET TO HOLD

“We maintain our long-held bullish outlook with resistance seen next at the 2018 highs at 118.61/66 and with 122.90/123.00 still our ultimate objective.”

“Support at 116.35/10 now ideally holds, although only a close back below the 55-day average at 115.24 would warn of a ‘false’ break higher.”