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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 28, 2017

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Recently, the USD/JPY pair has been trading sideways downwards. The price tested the level of 112.66. Anyway, according to the 4H time – frame, I found a major upward trendline (support) on the test, which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 113.35 and at the price of 113.63.

Resistance levels:

R1: 113.84

R2: 114.40

R3: 115.15

Support levels:

S1: 112.50

S2: 111.75

S3: 111.18

Trading recommendations for today: watch for potential buying opportunities.

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