USDJPY intraday technical analysis - 16/02/2018

USDJPY

105.848 / 105.855

SUMMARY

Down

TREND

Down trend

SENTIMENT

Bullish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: USDJPY remains under the bearish pressure on the medium-term perspective. However, break of resistive measure at 106.10 (R1) is liable to initiate retracement action towards to our next targets at 106.74 (R2) and 107.37 (R3) in potential.
Downwards scenario: Fractal level offers a key supportive measure at 105.54 (S1) on the downside. A violation here is liable to commence downtrend structure on the bigger picture and expose our initial targets at 104.90 (S2) and 104.25 (S3).

Resistance levels: 106.10, 106.74, 107.37

Support levels: 105.54, 104.90, 104.25