(24 APRIL 2017):USD / JPY:Moving higher.

Moving higher.

• USD/JPY has drifted higher. Hourly resistance 

at 109.10 (18/04/2017 high) has been broken. 

Other resistance can be found at 110.11, while a 

key resistance stands at 112.20 (31/03/2017 high). 

Next support can be located at 108.22 

(17/04/2017 low). Other key supports lie at a 

distant 106.04 (11/11/2016 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 

(13/06/2013 low).

(By Peter Rosenstreich )