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USD/JPY Pushing Downwards

Swissquote Bank SA
By Swissquote Bank SA

USD/JPY has broken the rising trendline. The bearish pattern started in January 2018 is somewhat weakening. The short-term technical structure suggests continued short-term upward moves.

We favor a long-term bearish bias. Support remains at 101.20 (09/11/2016 low). 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). The pair trades below its 200 DMA

Swissquote Bank SA
Swissquote Bank SAhttp://en.swissquote.com/fx
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