USD/JPY set to race higher towards 2017 highs at 118.62 – Credit Suisse

USD/JPY is now coming near the 114.00 level. Economists at Credit Suisse anticipate the pair to surge greater and attain the 2017 top of 118.62.

Reasons to continue to be long
“We see scope for JPY weak spot to run in addition into and after the 31 Oct election. We are elevating our achievable Q4 USD/JPY pinnacle to the 2017 excessive at 118.62, the place we would anticipate the go to fade out on a longer-term basis.”

“Barring a fundamental cave in in international threat assets, we additionally elevate our flooring for the pair to 111.60 from 108.00 previously.”

“Although we see excessive odds of hopes for real trade being disillusioned in the ultimate analysis, we decide on no longer to stand in the way of markets making an attempt to rate in a strong financial divergence theme at this time

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