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Holding above 111.00.
(By Yann Quelenn)
• USD/JPY has broken short-term uptrend
channel and strong support located at 111.12
(20/09/2017 low). The road is wide open for
further decline.
• We favor a long-term bearish bias. Support is
now given at 99.02 (10/08/2013 low). A gradual
rise towards the major resistance at 125.86
(05/06/2015 high) seems unlikely. Expected to
decline further support at 93.79 (13/06/2013 low).
