108 in USD/JPY flagged as resistance

Author: Eamonn Sheridan | Category: News

Credit Agricole on US/Yen following the election in Japan over the weekend:

  • may test 108
  • Japanese equities could also head higher
  • 108 is likely to see sellers enter though as the response to the election win is likely to be restrained. It wasn't a surprise result. 
  • Yen to regain momentum as focus switches back to trade talks
  • USD to weaken with the dovish Fed ahead, EUR to weaken with a dovish ECB also
  • 106.50 a downside level to watch for support

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