(11 JUNE 2018)USD / JPY:Sharp spike.

(11 JUNE 2018)USD / JPY:Sharp spike.

11 June 2018, 14:19
Jiming Huang
0
47
jpy

Sharp spike.

(By Peter Rosenstreich)

• USD/JPY continues to rise after its bullish

reversal pattern from 108.39 (31/05/2018 low).

Strong support and resistance are located at

108.05 (09/02/2018 low) and 111.48 (18/01/2018

high). The technical structure suggests shortterm

increase.

• We favor a long-term bearish bias. A gradual

rise towards major resistance at 125.86

(05/06/2015 high) seems unlikely. The pair is

expected to decline further along long-term

support at 101.20 (09/11/2016 low). The pair

trades at its 200 DMA.

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