USDJPY intraday technical analysis - 13/08/2018

USDJPY

110.329 / 110.334

SUMMARY

Down

TREND

Downward penetration

SENTIMENT

Bearish

VOLATILITY

Low

MARKET ANALYSIS

Upwards scenario: Market sentiment is clearly bearish now, however pullback formation is possible. Fractals level at 110.63 (R1) offers next resistive measure. Clearance here would suggest further appreciation towards to our initial targets at 111.03 (R2) and 111.40 (R3).
Downwards scenario: Next support level is seen at 109.87 (S1). Possible penetration below this mark would open way towards to next target at 109.48 (S2) and then any further market decline would be limited to last mark at 109.10 (S3).

Resistance levels: 110.63, 111.03, 111.40

Support levels: 109.87, 109.48, 109.10