USDJPY intraday technical analysis - 23/08/2017

USDJPY

109.377 / 109.384

SUMMARY

Down

TREND

Downward penetration

SENTIMENT

Bullish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: USDJPY eased today, turning short-term market sentiment to the bearish side while medium-term bias remains positive. Next resistance locates at 109.67 (R1), loss here would suggest higher targets at 110.03 (R2) and 110.36 (R3) in potential.
Downwards scenario: Next support level is seen at important fractal level at 109.25 (S1) and price is required to overcome first. Successful retest here would suggest lower targets at 108.95 (S2) and 108.63 (S3) in potential.

Resistance levels: 109.67, 110.03, 110.36

Support levels: 109.25, 108.95, 108.63