(By Yann Quelenn )
• USD/JPY has bounced back lower after
reaching after setting a new hourly resistance at
114.24 (25/10/2017 high). Next key resistance can
be found at 114.49 (11/07/2017 high). Support is
located at 111.12 (20/09/2017 low).
• 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).