USD/YEN Update – 06/07/2017 (10:30am) – by Arjun Lakhanpal

July 6, 2017 by

USD/YEN Update – 06/07/2017 (10:30am): The short term upside bias is intact amid the backup in US rates and today’s break of the next area of key resistance. With the push above the important 113.00/10 area (76.4% retracement), a closer test, if not break of the 114.37 May high now seems likely. Near term pullbacks should find support at 111.73/110.95 levels and recent reaction lows. Violations of the latter would be a near term negative suggesting another shift within the range.