Recently, the USD/JPY pair has been trading sideways at the price of 111.40. Anyway, I found a supply trend line, which is holding very well. My advice is to watch for potential selling opportunities. The short-term trend is still downward. Downward targets are set at the price of 111.05 (Friday’s low) and 110.25.
Resistance levels:
R1: 111.35
R2: 111.42
R3: 111.55
Support levels:
S1: 111.10
S2: 111.00
S3: 110.90
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 111.40. Anyway, I found a supply trend line, which is holding very well. My advice is to watch for potential selling opportunities. The short-term trend is still downward. Downward targets are set at the price of 111.05 (Friday’s low) and 110.25.
Resistance levels:
R1: 111.35
R2: 111.42
R3: 111.55
Support levels:
S1: 111.10
S2: 111.00
S3: 110.90
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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