(19 JUNE 2017)USD / JPY:Consolidating.

(19 JUNE 2017)USD / JPY:Consolidating.

19 June 2017, 13:43
Jiming Huang
0
16

jpy


Consolidating.

• USD/JPY is trading sideways after short-term 

surge. Hourly support can be found at 108.89 

(14/06/2017 high). Strong support is located at 

108.13 (17/04/2017 low). Hourly resistance given 

at 110.81 (09/06/2017 high) has been broken. 

Other key supports lie at a distance 106.04 

(11/11/2016 low). Expected to show continued 

increase towards resistance given at 112.13 

(24/05/2017 high) 

• 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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