Ready to bounce back.
(By Yann Quelenn)
• USD/JPY is riding uptrend channel below
former resistance at 114.49 (11/07/2017 high).
Hourly support is given at 113.09 (09/10/2017
low). Strong support is located at a distance 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).