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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 November 28, 2017

analytics5a1d506f2d814.png

Recently, the USD/JPY has been trading sideways at the price of 111.30. According to the 30M time - frame, I found that price is testing an upward trendline (resistance), which is a sign that buying looks risky.Also, I found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 111.73 (pivot support 1) and at the price of 110.36 (pivot support 2).

Resistance levels:

R1: 111.57

R2: 112.06

R3: 112.42

Support levels:

S1: 110.73

S2: 110.36

S3: 109.87

Trading recommendations for today: watch for potential selling opportunities.

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