USD/JPY analysis for April 04, 2018

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Recently, the USD/JPY pair has been trading downwards. The price tested the level of 105.98. Anyway, according to the 15M time – frame, I found locked traders in the background and a successful breakout of the horizontal base, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 105.75 and at the price of 105.45.

Resistance levels:

R1: 106.94

R2: 107.28

R3: 107.90

Support levels:

S1: 105.97

S2: 105.35

S3: 105.01

Trading recommendations for today: watch for potential selling opportunities.

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