HomeContributorsTechnical AnalysisUSD/JPY Pushing Towards 109.80

USD/JPY Pushing Towards 109.80

USD/JPY is rising following weakness and trades above 109.50. Hourly support remains at 111.50 (18/01/2018 high). The technical structure suggests further short-term upside move.

We favor a long-term bearish bias. Support is now given at 107.32 (08/09/2017 low). A gradual rise towards the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 101.20 (09/11/2016 low).

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