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USD/JPY analysis for September 04, 2018

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Recently, the USD/JPY pair has been trading upwards. The price tested the level of 111.52. According to the H1 time - frame I found potential bearish bar pattern in creation, which represents that you should watch for selling opportunities. Anyway, the sell zone is set around the price of 111.70 (Fibonacci retracement 88.6%). Watch for potential rejection of the sell zone to enter sell position. The downward targets are set at the price of 111.20 and at the price of 110.85.

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