USDJPY intraday technical analysis - 20/04/2018

USDJPY

107.548 / 107.553

SUMMARY

Up

TREND

Upward penetration

SENTIMENT

Bearish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: On the upside potential is seen for a break above the resistance at 107.73 (R1). In such case we would suggest next target at 107.98 (R2) and any further rise would then be limited to final resistance at 108.22 (R3).
Downwards scenario: Recently created local low at 107.45 (S1) suggest an important support level. Break here is required to open way towards to our lower targets at 107.24 (S2) and 107.02 (S3) in potential.

Resistance levels: 107.73, 107.98, 108.22

Support levels: 107.45, 107.24, 107.02