(12 JUNE 2017)USD / JPY:Bearish pressures arise,

(12 JUNE 2017)USD / JPY:Bearish pressures arise,

12 June 2017, 14:26
Jiming Huang
0
24

jpy

Bearish pressures arise,

• USD/JPY's short-term bearish pressures are 

back. The pair is bouncing lower. Hourly support 

can be found at 109.12 (07/06/2017 high). Strong 

support is located at 108.13 (17/04/2017 low). 

Hourly resistance is given at 112.13 (24/05/2017 

high). Other key supports lie at a distance 

106.04 (11/11/2016 low). 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)

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