(18 DECEMBER 2017)USD / JPY:Ready for another leg lower.

Ready for another leg lower.

(By Yann Quelenn )

• USD/JPY is ready to push lower. Hourly

resistance is given at 113.75 (12/12/2017 high)

while hourly support is given at 112.03

(15/12/2017 low). The technical structure

suggests further weakness.

• 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).