0
50
Sharp spike.
(By Peter Rosenstreich)
• USD/JPY continues to rise after its bullish
reversal pattern from 108.39 (31/05/2018 low).
Strong support and resistance are located at
108.05 (09/02/2018 low) and 111.48 (18/01/2018
high). The technical structure suggests shortterm
increase.
• We favor a long-term bearish bias. A gradual
rise towards major resistance at 125.86
(05/06/2015 high) seems unlikely. The pair is
expected to decline further along long-term
support at 101.20 (09/11/2016 low). The pair
trades at its 200 DMA.