USD/JPY has bounced back after setting a new hourly resistance at 114.10 (23/10/2017 high). Next key resistance can be found at 114.49 (11/07/2017 high). Support is located at 111.12 (20/09/2017 low).
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).