(10 JULY 2017)USD / JPY:Ready for a bullish breakout.

(10 JULY 2017)USD / JPY:Ready for a bullish breakout.

10 July 2017, 13:42
Jiming Huang
0
19

jpy


Ready for a bullish breakout.

(Yann Quelenn )

• USD/JPY is still riding within symmetrical

triangle towards resistance given at 114.37 

(10/05/2017 high). Hourly support can be found 

at 112.83 (05/07/2017 low). Stronger support is 

located at 108.13 (17/04/2017 low). Expected to 

show continued bullish pressures. 

• 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).

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