The EUR/JPY pair continues to push strongly higher after the completion of a fresh bull “triangle” pattern and economists at Credit Suisse stay bullish for an eventual move to 132.55.
See – EUR/JPY to hold the 130.33/36 zone – Commerzbank
Key quotes
“We look for the trend to stay directly higher with resistance seen next at 130.51, ahead of 131.38, then our main objective of 132.55 – the 78.6% retracement of the 2018/2020 bear trend. We would look for a better cap to then be found here.”
“Support is seen higher at 1230.18 initially, with 129.81 now ideally holding to keep the immediate risk higher. Below can see a fall back to 129.56/55, potentially 129.22 again.”
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