USD/JPY decreases and approaches hourly support at 105.55 (16/02/2018 low). USD/JPY downward pattern is maintained. Hourly support and resistance are given at 105.55 (16/02/2018 low) and 107.90 (14/02/2018 high). Further support is given at 104.97 (11/10/2016 low). The short-term technical structure suggests further decline.
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).
. USD/JPY downward pattern is maintained. Hourly support and resistance are given at 105.55 (16/02/2018 low) and 107.90 (14/02/2018 high). Further support is given at 104.97 (11/10/2016 low). The short-term technical structure suggests further decline.){kind=link}