USDJPY intraday technical analysis - 11/12/2017

USDJPY

113.445 / 113.449

SUMMARY

Down

TREND

Downward penetration

SENTIMENT

Bearish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: USDJPY established clear negative bias on the medium-term perspective. However, appreciation above the resistance at 113.68 (R1) could provide a chance to expose our target at 114.03 (R2) and 114.38 (R3) in potential.
Downwards scenario: On the downside we put our attention to the key support level 113.29 (S1). Loss here is required to push the instrument towards to our next interim targets at 112.94 (S2) on route towards to final support at 112.57 (S3).

Resistance levels: 113.68, 114.03, 114.38

Support levels: 113.29, 112.94, 112.57