USD/JPY Weekly Analysis – Sunday, November 19

USD/JPY failed to breakout of 115.50 and pulled back to 111.94, facing the key support at 111.47. A breakdown below this level will confirm that the bounce from 107.31 had completed at 114.73 already, then the following correction movement could take price back to the 109.50 zone.

On the upside, as long as 111.47 support holds, the fall from 114.73 could possibly be a consolidation of the uptrend, and one more rise to test 115.50 resistance is still possible.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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