Technical Checks For USD/JPY, EUR/JPY & GBP/JPY: 23.11.2018

USD/JPY

USDJPY’s U-turn from 113.10-05 resistance-region portrays the pair’s short-term weakness that can fetch it back to 112.60 and the 112.30 supports; however, the 112.00 and the 111.85-80 area may restrict the quote’s additional downside. In case sellers keep dominating past-111.80, the 111.35 and the 111.00 could become their favorite targets. On the contrary, break of 113.10 can trigger the pair’s recovery towards 113.30 and the 113.55-60 whereas 113.80 & 114.05-10 might challenge the buyers then after. Assuming the pair’s successful rally beyond 114.10 opens the gate for 114.55 and the 115.10 to appear on the chart.

EUR/JPY

Even if 129.05-10 horizontal-barrier continues limiting the EURJPY’s upside, the pair has to register a clear breakdown of an upward slanting TL, at 128.20, in order to visit the 127.65-60 support-zone. Given the pair’s refrain to respect 127.60 halt, the 127.20 & the 126.60 may offer intermediate stops during its plunge to 61.8% FE level of 126.00. Meanwhile, 128.70 can be considered as immediate resistance for the pair before highlighting the 129.05-10 hurdle. Should prices rise above 129.10, the 129.40 and six-week old resistance-line around 129.95-130.00 could play their roles ahead of diverting market attention to 130.70 and the 131.30 resistances.

GBP/JPY

Alike USDJPY, the GBPJPY also reversed from horizontal-resistance, the 145.95-146.00, and is likely declining towards adjacent support, which is 144.20 TL. If the pair drops beneath 144.20, the 143.80, the 143.30 and the 142.75 might entertain the Bears. Alternatively, the 145.50 may test the pair’s near-term strength prior to fueling it to 145.95-146.00 resistance-region. Let’s say the quote manages to cross 146.00 mark then 146.50 and a descending trend-line, at 146.85 now, could trouble the Bulls.