DAILY TECHNICAL REPORT 17 March 2015
Consolidating below the key resistance
at 121.85.
• USD/JPY is consolidating below the key
resistance at 121.85 (see also the long-term
declining channel). Supports can be found at
120.61 (09/03/2015 low) and 119.38 (03/03/2015
low). A major resistance stands at 124.14.
• A long-term bullish bias is favoured as long as
the key support at 115.57 (16/12/2014 low) holds.
A gradual rise towards the major resistance at
124.14 (22/06/2007 high) is favoured.