Testing 112.20.
• USD/JPY is consolidating. Strong resistance
can be found at 112.20 (31/03/2017 high).
Closest support can be located at 108.13
(17/04/2017 low). Other key supports lie at a
distant 106.04 (11/11/2016 low). Expected to
show continued bullish pressures.
• 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 Yann Quelenn )
