USD/JPY trades slightly higher since yesterday trading session. The USD/JPY bearish trend is however maintained, heading for the 106 range. Hourly support and resistance are given at 105.55 (16/02/2018) and 109.09 (31/01/2018 high). The technical structure suggests shortterm downside moves.
We favor a long-term bearish bias. Support at 105.55 (03/05/2016 low) is almost reached. A gradual rise toward the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 101.20 (09/11/2016 low).
 and 109.09 (31/01/2018 high). The technical structure suggests shortterm downside moves.){kind=link}