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Gold •15 mins	1,634.00	-16.00	-0.97%
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Gasoline •10 mins	1.605	-0.037	-2.22%
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Silver • 15 mins	17.82	-0.38	-2.07%
Copper • 15 mins	2.574	-0.008	-0.31%
Brent Crude • 11 mins	54.02	-0.24	-0.44%
Natural Gas • 10 mins	1.869	+0.018	+0.97%
Heating Oil • 10 mins	1.539	-0.027	-1.71%

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USD/JPY - Targeting Long-Term Support

By - May 03, 2016, 5:19 AM CDT

USD/JPY keeps on declining. Hourly support at 106.15 (02/05/2016 low) has been broken. 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 continued weakness.

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 found at 105.23 (15/10/2014 low).

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