(17 AUGUST 2018)USD/JPY:Bullish bias above 110.70.

Pivot (invalidation): 110.70

Our preference

Long positions above 110.70 with targets at 111.15 & 111.45 in extension.

Alternative scenario

Below 110.70 look for further downside with 110.40 & 110.15 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be

limited.

(By Swissquote TRADING CENTRAL)