USDJPY 12-01-2018 Intra-day analysis

ECB minutes stall euro's declines

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USDJPY intra-day analysis

USDJPY (111.27): The USDJPY extended the declines for the third consecutive day. The gains came on a weaker U.S. dollar while the Japanese yen managed to maintain the bullish moment. Price action is expected to see USDJPY eventually touch down to 110.70 in the near term, following the downside breakout from the triangle pattern on the daily chart. On an intraday basis, immediate support is seen at 111.00 which could offer some short-term respite.




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