USDJPY intraday technical analysis - 18/10/2017

USDJPY

112.323 / 112.329

SUMMARY

Up

TREND

Upward penetration

SENTIMENT

Bullish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: On the upside, clearance of our next resistance at 112.47 (R1) is required to open way towards to next target at 112.73 (R2). Last resistance level for today is seen 112.99 (R3)
Downwards scenario: On the other hand, a dip below the key support level at 112.17 (S1) is liable to commence retracement formation. Our initial targets are seen at 111.95 (S2) and 111.73 (S3) if the price manages to get sufficient momentum.

Resistance levels: 112.47, 112.73, 112.99

Support levels: 112.17, 111.95, 111.73