Recently, the USD/JPY pair has been trading sideways at the price of 111.10. According to the 1H time frame, I found powerlessness from the buyers to move USD/JPY higher, which is a sign of weakness. The USD/JPY is in short – term bearish trend. My advice is to watch for selling opportunities. Targets are set at the price of 110.70 and 110.00.
Resistance levels:
R1: 111.40
R2: 111.65
R3: 112.00
Support levels:
S1: 110.70
S2: 110.50
S3: 110.10
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the USD/JPY pair has been trading sideways at the price of 111.10. According to the 1H time frame, I found powerlessness from the buyers to move USD/JPY higher, which is a sign of weakness. The USD/JPY is in short – term bearish trend. My advice is to watch for selling opportunities. Targets are set at the price of 110.70 and 110.00.
Resistance levels:
R1: 111.40
R2: 111.65
R3: 112.00
Support levels:
S1: 110.70
S2: 110.50
S3: 110.10
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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