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Bullish consolidation.
(By Yann Quelenn )
• USD/JPY is consolidating higher but the trend
is clearly negative. Strong support is located at
106.95 (08/09/2017 high). 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).
