Volatility is fading around 109.00.
(By Yann Quelenn)
• USD/JPY has bounced strongly off support.
The pair is likely to retest towards former
support at 108.13 (17/04/2017 low) . Expected to
show another leg lower.
• 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