USDJPY intraday technical analysis - 22/06/2018

USDJPY

109.98 / 109.985

SUMMARY

Down

TREND

Downward penetration

SENTIMENT

Bullish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: Break of our resistance at 110.16 (R1) would suggest next targets at 110.46 (R2) and 110.76 (R3).
Downwards scenario: On the other hand, progress below the initial support level at 109.87 (S1) might initiate new step of descending structure. Lower support is seen at 109.59 (S2) and any further market weakening would then be limited to final aim at 109.31 (S3).

Resistance levels: 110.16, 110.46, 110.76

Support levels: 109.87, 109.59, 109.31