(26 JUNE 2017)USD / JPY:Continued consolidation before testing  again resistance at 112.13.

(26 JUNE 2017)USD / JPY:Continued consolidation before testing again resistance at 112.13.

26 June 2017, 13:36
Jiming Huang
0
23

jpy


Continued consolidation before testing 

again resistance at 112.13.

• USD/JPY has failed to monitor resistance given 

at 112.13 (24/05/2017 high). Hourly support can 

be found at 108.89 (14/06/2017 high). Stronger 

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

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