(08 MAY 2017)USD / JPY:Consolidating above former resistance.

(08 MAY 2017)USD / JPY:Consolidating above former resistance.

8 May 2017, 14:00
Jiming Huang
0
16

JPY

Consolidating above former resistance.

• USD/JPY is now slowing down since the pair 

reached resistance given at 112.20 (31/03/2017 

high). Hourly support can be found at 110.88 

(26/04/2017 low). Stronger support is 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 )


Share it with friends: