USD/JPY analysis for September 20, 2017


Recently, the USD/JPY pair has been trading downwards. As I expected, the price tested the level of 111.23. Anyway, according to the 30M time frame, I found that sellers don't have enough power to break yesterday's low at the price of 111.20, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities today. The upward target is set at the price of 111.85 (yesterday's high).

Resistance levels:

R1: 111.35

R2: 111.40

R3: 111.50

Support levels:

S1: 111.25

S2: 111.20

S3: 111.15

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -