EUR/JPY has seen a clear break above the 2018 high at 137.50. Subsequently, economists at Credit Suisse look for a test of the 2014 high at 149.78.

EUR/JPY to test the 149.78 high of 2014

“EUR/JPY has now seen a decisive break above the 137.50 high of 2018 and we look for further strength to test the 149.78 high of 2014.”

“Whilst we would expect the 149.78 high of 2014 to cap at first, big picture we look for a move to the long-term downtrend and 78.6% retracement resistance at 153.34/155.25.”