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
(By Yann Quelenn)