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Credit Suisse: Stay long USD/JPY- eFXnews

FXStreet (Łódź) - The eFXnews team comment that Credit Suisse advises to maintain a long USD/JPY position.

Key quotes

"USD/JPY has surged higher, taking out the potential trendline resistance from May 2013 at 107.53, notes Credit Suisse."

"Further strength here can see a move towards 109.07 initially, ahead of the medium-term potential trend resistance from June 2007 at 109.31."

"Whilst we would look for an cap here at first, bigger picture, we stay bullish for an eventual break which should then see scope for what we deem as tougher resistance at 110.67/111.60 – the 50% retracement of the entire 1998/2011 bear market and August 2008 high."

"In line with this view, CS maintains a long USD/JPY from 106.80 targeting 109.25."

'This content has been provided under specific arrangement with eFXnews.'

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