Bouncing after breaking 108.83
(Yann Quelenn )
• USD/JPY has bounced back after the pair
broke support at 108.83 (17/04/2017 low). The
pair is still located within downtrend channel.
Expected to show further downside 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