What is the technical outlook for USD/JPY in the near-term? Here is their view, courtesy of eFXdata: Credit Suisse discusses USD/JPY technical outlook and adopts a neutral bias in the near-term. “Below the 108.57 recent low though remains needed to mark a confirmed break of the uptrend from January to raise the prospect of further weakness within the broader sideways range with resistance seen next at the May lows at 108.36/35. Beneath this latter area though remains needed to warn of a top and a more decisive turn lower with support seen next at 107.77, the 38.2% retracement of the Q1 rally, with the April low at 107.48,” CS notes. “Above 109.07 can see a move back to the highs of last week at 109.29/34, with more important resistance remaining at 109.71/75. Beyond this latter area remains needed to clear the way for strength back to the late March high and potential downtrend from February 2020 at 110.81/97,” CS adds. For lots more FX trades from major banks, sign up to eFXplusBy signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Daily Look share Read Next USD/CNY to extend its slump towards the 6.2843/6.2431 zone – Credit Suisse FX Street 12 months What is the technical outlook for USD/JPY in the near-term? Here is their view, courtesy of eFXdata: Credit Suisse discusses USD/JPY technical outlook and adopts a neutral bias in the near-term. "Below the 108.57 recent low though remains needed to mark a confirmed break of the uptrend from January to raise the prospect of further weakness within the broader sideways range with resistance seen next at the May lows at 108.36/35. Beneath this latter area though remains needed to warn of a top and a more decisive turn lower with support seen next at 107.77, the 38.2% retracement of the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
