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USD/JPY - Towards Resistance At 106.84

By - Jul 19, 2016, 6:43 AM CDT

USD/JPY keeps on pushing higher. Hourly supports are located at 103.91 (13/07/2016 low) and at 100 (06/07/2016 low). Expected to keep increasing towards resistance at 106.84 (23/06/2016 high).

We favour a long-term bearish bias. Support is now given at 96.57 (10/08/2013 low). A gradual rise towards the major resistance at 135.15 (01/02/2002 high) seems absolutely unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

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