Daily Analysis

USD/JPY
Bouncing back.
USD/JPY
has moved sharply higher. Hourly support lies at 105.55 (03/05/2016 low). Hourly
resistance can be found at 107.42 (29/04/2016
high), stronger resistance can be found at 111.88
(28/04/2016 high). Expected to show further weakening.
We favour a long-term bearish bias. Support at
105.23 (15/10/2014 low) is on target. A gradual
rise towards the major resistance at 135.15
(01/02/2002 high) seems now less likely. Another
key support can be fou…
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