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19.09.201714:06 Forex Analysis & Reviews: USD/JPY analysis for September 19, 2017

Long-term review

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Recently, the USD/JPY pair has been trading upwards. The price tested the level of 111.88. Anyway, according to the 30M time frame, I found a fake breakout of yesterday's high at the price of 111.66, which is a sign that buying looks risky. Price action confirmed a successful rejection from 111.66 and my advice is to watch for potential selling opportuntiies. The downward targets are set at the price of 111.02 and 110.85 (gap area).

Resistance levels:

R1: 111.60

R2: 111.70

R3: 111.85

Support levels:

S1: 111.40

S2: 111.30

S3: 111.20

Trading recommendations for today: consider potential selling opportunities.

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