USD/JPY analysis fo March 02, 2018

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Recently, the USD/JPY pair has been trading downwards. The price tested the level of 105.30. According to the 30M time – frame, I found a series of lower highs and lower lows, which is a sign that sellers are in control. I also found a suply trendline, which is holding well. My advice is to watch for potential selling opportunities. The downward target is set at the price of 104.85 (third level of pivot support).

Resistance levels:

R1: 106.90

R2: 107.57

R3: 107.95

Support levels:

S1: 105.86

S2: 105.49

S3: 104.85

Trading recommendations for today: watch for potential selling opportunities.

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