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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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USD/JPY analysis for June 09, 2017

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Recently, the USD/JPY pair has been trading upwards. The price tested the level of 110.47. According to the 30M time frame, I found a fake breakout of yesterday's high, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 109.80 and 109.50.

Resistance levels:

R1: 110.40

R2: 110.50

R3: 110.70

Support levels:

S1: 111.00

S2: 109.90

S3: 109.70

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com