USD/CAD analysis for June 29, 2018

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Recently, USD/JPY has been trading downwards. The price tested the level of 1.3220. According to the H1 time - frame, I found a broken support trendline in the background which is a sign that sellers are in control. I also found a hidden bearish divergence in the background which is a sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3130 and at the price of 1.3020.

Resistance levels:

R1: 1.3320

R2: 1.3390

R3: 1.3430

Support levels:

S1: 1.3200

S2: 1.3175

S3: 1.3110

Trading recommendations for today: watch for potential selling opportunities.

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