USDJPY intraday technical analysis - 11/12/2018

USDJPY

113.143 / 113.147

SUMMARY

Up

TREND

Upward penetration

SENTIMENT

Bearish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: Ascending structure remains in focus on the bigger picture. Next resistance is seen at 113.36 (R1). Break here is required to clear the way towards to higher targets at 113.65 (R2) and 113.95 (R3).
Downwards scenario: Prolonged movement below the supportive measure at 113.01 (S1) is required to activate correction phase. In such case we would suggest interim target at 112.72 (S2) and then final aim could be triggered at 112.41 (S3).

Resistance levels: 113.36, 113.65, 113.95

Support levels: 113.01, 112.72, 112.41