USD/JPY is bouncing off support at 108.13 (17/04/2017 low). The pair is heading towards resistance at 111.05 (04/08/2017 high). Expected to show another leg higher.
We favor a long-term bearish bias. Support is now given at 96.57 (10/08/2013 low). A gradual rise towards the major resistance at 135.15 (01/02/2002 high) seems absolutely unlikely. Expected to decline further support at 93.79 (13/06/2013 low).