HomeContributorsTechnical AnalysisUSD/JPY Ready For Another Leg Lower

USD/JPY Ready For Another Leg Lower

USD/JPY is consolidating higher but the trend remains clearly negative. Strong support is located at 107.32 (08/09/2017 high). Expected to show further downside pressures.

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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