|

USD/JPY: Support is seen at 129.62/52 and eventually 127.53/27 – Credit Suisse

USD/JPY has fallen sharply post US payrolls. In the view of analysts at Credit Suisse, the recent strength has been corrective only and stay bearish for 127.53/27.

Resistance at 134.78/89 set to cap

“The recovery in USD/JPY last week was unable to hold above the 134.50 recent high. This adds weight to the core view recent strength has been corrective only.” 

“Below support at 131.30 should see the immediate risk stay lower for a retest of the 129.62/52 recent low. An eventual break below here should clear the way for a move to our 127.53/27 core objective – the ‘neckline’ to the multi-year base and 50% retracement of the 2020/2022 uptrend.”

“Resistance is seen at 132.96 initially, then 133.24, with 134.78/89 expected to remain a major cap.”

Author

FXStreet Insights Team

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

More from FXStreet Insights Team
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD stays bid above 1.1700 as risk flows dominate

EUR/USD posts small gains above 1.1700 in early European trading hours on Monday. The US Dollar remains broadly subdued amid a risk-on market profile, underpinning the pair. 

GBP/USD clings to recovery gains near 1.3400

GBP/USD is clinging to recovery gains near 1.3400 in early Europe on Monday. The pair capitalizes on an upbeat market mood and a steady US Dollar as traders digest the recent

 monetary policy decisions by the Fed and the BoE.

Gold hits fresh record highs above $4,400 amid renewed geopolitical woes

Gold is hitting fresh record highs above $4,400 early Monday, helped by renewed geopolitical tensions. Israel-Iran conflict and US-Venezuela headlines drive investors toward the traditional store of value, Gold. 

Bitcoin, Ethereum and Ripple eye breakout for fresh recovery

Bitcoin, Ethereum, and Ripple are approaching key technical levels at the time of writing on Monday as the broader crypto market stabilizes. Market participants are closely watching whether BTC, ETH, and XRP can sustain breakouts and achieve decisive daily closes above nearby resistance levels, which could signal the start of a short-term recovery.

De-dollarisation by design: Gold’s partner in the new system

You don’t need another 2008 for the system to reset. You just need enough nations to stop settling trade in dollars. And that’s already happening. "If gold is the anchor, what actually moves value in a post-dollar world?” It’s a question most gold investors overlook. We think in terms of storage and preservation, but in the new rails being built, settlement speed matters just as much as soundness of money.

Hyperliquid price forecast: Bullish interest builds amid user recovery

Hyperliquid (HYPE) trades at $25 at press time on Monday, holding the 3% gains from the previous day. The perpetual exchange sees a recovery in active users, while weekly fees collected decline to the lowest level so far this month.