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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 - Decling Toward The Support at 122.46

USD/JPY is now declining toward the hourly support at 122.46 (10/06/2015 low). We expect the pair to test this support. We remain bullish for the pair as we stay largely above the 200- dma. However, the pair is gaining bearish momentum on the short term. Key resistance lies at 135.15 (14-year high).

A long-term bullish bias is favored as long as the strong support at 115.57 (16/12/2014 low) holds. A gradual rise towards the major resistance at 135.15 (01/02/2002 high) is favored. A key support can be found at 118.18 (16/02/2015 low).

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