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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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USD/JPY - Losing Short-Term Momentum

USD/JPY is losing momentum. A break of the initial support at 108.60 would favour a shortterm corrective phase. Hourly supports are given by the steep rising trendline (around 108.19) and 107.39. An hourly resistance stands at 109.46 (19/09/2014 high).

A long-term bullish bias is favoured as long as the key support 100.76 (04/02/2014 low) holds. The recent new highs confirm a strong underlying bullish trend. Despite a likely pause near the major resistance at 110.66 (15/08/2008 high), an eventual break to the upside is favoured. Another resistance can be found at 114.66 (27/12/2007 high).

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