• USD/JPY: Aggressive sell-off to extend back to August lows at 108.86/70 - Credit Suisse

Market news

16 August 2021

USD/JPY: Aggressive sell-off to extend back to August lows at 108.86/70 - Credit Suisse

FXStreet reports that economists at Credit Suisse suggest that USD/JPY is set to retest August lows and potential trend support at 108.86/73

“Whilst resistance at 109.76 caps the immediate risk is seen lower with support seen at 109.24 initially, then the August low and potential trend support at 108.86/70. We would look for an attempt to find a fresh floor here.”

“Below 108.70 would see the immediate risk stay lower with support seen next at 108.57.” 

“Above 109.76 can ease the immediate downside bias for a recovery back to the 55-day average at 110.16.”

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