USD/JPY analysis for July 06, 2017

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Recently, the USD/JPY has been trading sideways at the price of 113.27. According to the 30M time frame, I found a trading range between the price of 113.50 (resistance) and the price of 112.80 (support). The price successfully tested resistance and my advice is to watch for potential selling opportunities. The downward target is set at the price of 112.80.

Resistance levels:

R1: 113.70

R2: 114.15

R3: 114.60

Support levels :

S1: 112.80

S2: 112.35

S3: 111.90

Trading recommendations for today: watch for potential selling opportunities.

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