(04 SEPTEMBER 2017)USD / JPY:Preparing to challange support.

Preparing to challange support. 

(By Peter Rosenstreich)

• USD/JPY further declined today confirming 

increasing selling pressures. The pair has failed 

to test resistance at 111.05 (04/08/2017 high). 

Support is located at 108.13 (14/06/2017 low). 

Expected to show further downside pressures. 

• We favor a long-term bearish bias. Support is 

now given at 99.02 (10/08/2013 low). A gradual 

rise towards the major resistance at 125.86 

(05/06/2015 high) seems unlikely. Expected to 

decline further support at 93.79 (13/06/2013 low).