Renewed bullish pressures.
• USD/JPY is trading higher towards resistance
given at 112.13 (24/05/2017 high). 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).
• 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)
