(28 AUGUST 2017)USD / JPY:Volatility is fading around 109.00.

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 

(13/06/2013 low).