Continued bullish momentum.
(By Yann Quelenn)
• USD/JPY is still lying into a bullish momentum
despite ongoing consolidation. Strong support
is located at 111.12 (20/09/2017 low). The pair is
way into a bullish trendh. Yet, downside risks are
rising as markets may soon take some short-term
• 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).