Recently, the USD/JPY has been trading downwards. The price tested the level of 110.27. Anyway, according to the 30M time frame, I found a fake breakout of the Friday’s low, which is a sign that selling today looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 111.00 and 111.20.
Resistance levels:
R1: 110.60
R2: 110.85
R3: 110.90
Support levels:
S1: 110.45
S2: 110.35
S3: 110.25
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the USD/JPY has been trading downwards. The price tested the level of 110.27. Anyway, according to the 30M time frame, I found a fake breakout of the Friday’s low, which is a sign that selling today looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 111.00 and 111.20.
Resistance levels:
R1: 110.60
R2: 110.85
R3: 110.90
Support levels:
S1: 110.45
S2: 110.35
S3: 110.25
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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