(17 APRIL 2017)USD / JPY:Weak bounce

(17 APRIL 2017)USD / JPY:Weak bounce

18 April 2017, 10:52
Jiming Huang
0
38

JPY

Weak bounce

• USD/JPY has broken to the downside out of

the horizontal support at 110.11 confirming a 

bearish bias. Next support can be located at 

108.22 (intraday low). Other key supports lie at a 

distant 106.04 (11/11/2016 low). Resistance can 

be found at 110.11, while a key resistance stands 

at 112.20 (31/03/2017 high). 

• 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 

(13/06/2013 low).

(By Peter Rosenstreich )

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