• USD/JPY is consolidating below resistance at
112.20 (31/03/2017 high). Stronger resistance can
be located at 113.57 (16/03/2017 high) while
support is given at 110.11 (27/03/2017 low).
• We favor a long-term bearish bias. Support is
now given at 96.57 (10/08/2013 low). A gradual
rise towards the major resistance at 135.15
(01/02/2002 high) seems absolutely unlikely.
Expected to decline further support at 93.79
(By Peter Rosenstreich )