USD/JPY to retest and eventually break above 145.00/12 – Credit Suisse

Analysts at Credit Suisse stay bullish on USD/JPY and look for a retest and eventual break above 145.00/12.

Move below 141.43 needed to ease the immediate upside bias

We continue to look for a retest of our 145.00/12 interim upside target – the high from June and the ‘neckline’ to the late 2022 top. Although this should again be respected our core outlook stays bullish and we look for an eventual break above here for resistance next at 146.54/66 and eventually the ‘measured base objective’ at 148.57. 

Below support from the recent low and 55-DMA at 141.43 is needed to mark a near-term top to ease the immediate upside bias and the likelihood of further weakness in a broader range with support then seen next at the uptrend from March, now seen at 139.00.