USD/YEN Update – 11/12/2017 (11:00am) – by Arjun Lakhanpal

USD/YEN Update – 11/12/2017 (11:00am): USDJPY rather stuck in a range.. With last week’s advance taking on an impulsive bias, the risk of additional upside retracement has increased. With the push above the 112.75/113.00 resistance zone (includes the mid-November breakdown area), a closer test of the November peak/medium-term range highs is likely, in our view. Failures would keep the door open to a deeper test of the 111.05/110.15 zone (50/61.8% retracements).