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.”