USD/JPY analysis for October 25, 2017


Recently, the USD/JPY has been upwards. The price tested the level of 114.24. According to the 15M time - frame, I found that buyers are in control and price is trading above the pivot level (113.72). I also found successful testing of supply in a rising market, which is another good indicator for further upward movement. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 114.50 (R2) and 114.95 (R3, extreme intraday target).

Resistance levels:

R1: 114.20

R2: 114.50

R3: 114.95

Support levels:

S1: 113.42

S2: 112.95

S3: 112.65

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -