For Traders

Analytical Reviews

Technical analysis

15.12.201712:42 Forex Analysis & Reviews: USD/JPY analysis for December 15, 2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Recently, USD/JPY has been trading downwards. The price tested the level of 112.03. Anyway, according to the 30M time – frame, I found a fake breakout of yesterday's low at the price of 112.06, which is a sign that selling looks risky. I also found a hidden bullish divergence on the moving average oscillator, which is another sign of strength. The price is trading below yesterday's value and my advice is to watch for potetnial buying opportunities. The upward target is set at the price of 112.75.

Resistance levels:

R1: 112.83

R2: 113.26

R3: 113.65

Support levels:

S1: 112.00

S2: 111.62

S3: 111.20

Trading recommendations for today: watch for potential buying opportunities.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.