(15 MAY 2017)USD / JPY:Consolidation phase.

(15 MAY 2017)USD / JPY:Consolidation phase.

15 May 2017, 13:51
Jiming Huang
0
22

jpy

Consolidation phase.

• USD/JPY is pushing higher since the pair broke 

resistance given at 112.20 (31/03/2017 high). 

Hourly support can be found at 113.86 

(11/05/2017 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 after this 

consolidation phase. 

• 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)

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