(31 JULY 2017)USD / JPY:Continued weakness

(31 JULY 2017)USD / JPY:Continued weakness

31 July 2017, 13:29
Jiming Huang
0
15

jpy

Continued weakness

(Yann Quelenn )

• USD/JPY's bearish momentum continues. 

Hourly support given at 110.62 (24/06/2016 low) 

has been broken. Stronger support is located at 

a distance at 108.83 (17/04/2017 low). Expected 

to show further downside pressurs. 

• 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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