(09 OCTOBER 2017)USD / JPY:Lack of follow-through.

(09 OCTOBER 2017)USD / JPY:Lack of follow-through.

9 October 2017, 13:43
Jiming Huang
0
12

jpy

Lack of follow-through.

(By Yann Quelenn)

• USD/JPY has broken resistance given at 113.26 

(27/09/2017 low) before bouncing lower. Strong 

support is located at a distance at 111.12 

(20/09/2017 low). The pair is trading in a range 

above hourly support at 112.22 (29/09/2017 low). 

Downside risks are nonetheless rising as markets 

may soon take some short-term profit. 

• 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).


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