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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 December 15, 2017

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Recently, USD/JPY has been trading downwards. The price tested the level of 112.03. Anyway, according to the 30M time – frame, I found a fake breakout of yesterday's low at the price of 112.06, which is a sign that selling looks risky. I also found a hidden bullish divergence on the moving average oscillator, which is another sign of strength. The price is trading below yesterday's value and my advice is to watch for potetnial buying opportunities. The upward target is set at the price of 112.75.

Resistance levels:

R1: 112.83

R2: 113.26

R3: 113.65

Support levels:

S1: 112.00

S2: 111.62

S3: 111.20

Trading recommendations for today: watch for potential buying opportunities.

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