(14 AUGUST 2017)USD / JPY:Bouncing after breaking 108.83

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 

(13/06/2013 low).