(29 MAY 2017)USD / JPY:Ready for another leg lower.

(29 MAY 2017)USD / JPY:Ready for another leg lower.

29 May 2017, 14:09
Jiming Huang
0
23

jpy

Ready for another leg lower.

• USD/JPY has exited the symmetrical triangle 

and keeps pushing lower. Hourly support is 

given at 110.24 (18/05/2017 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). The road is wide-open for 

further decline. 

• 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: