(21 NOVEMBER 2017)USD / JPY:Selling pressure builds.

(21 NOVEMBER 2017)USD / JPY:Selling pressure builds.

21 November 2017, 12:42
Jiming Huang
0
9

jp


Selling pressure builds.

(By Yann Quelenn)

• USD/JPY has broken short-term uptrend

channel. Hourly support is now given at 111.89

(20/11/2017 low). Stronger support is located at

a distance at 111.12 (20/09/2017 low). Expected

to show further decline.

• 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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