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