(16 OCTOBER 2017)USD / JPY:Edging lower.

(16 OCTOBER 2017)USD / JPY:Edging lower.

16 October 2017, 13:38
Jiming Huang
0
20

jpy


Edging lower.

(Yann Quelenn )


• USD/JPY keeps on declining. The pair is trading around 112.00. Strong hourly resistance is given at 113.44 (06/10/2017 high). Support is located at 111.12 (20/09/2017 low). Downside risks are definitely rising as markets are now taking some short-term profit after the strong increase during September, • 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).

Share it with friends: