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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 January 25, 2018

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Recently, the USD/JPY pair has been trading downwards. The price tested the level of 108.73. Anyway, according to the 30M time – frame, I found a fake breakout of yesterday's low at the price of 108.96, which is a sign that selling looks risky. I also found a bullish engulfing candle pattern, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 109.50 and at the price of 110.03.

Resistance levels:

R1: 110.04

R2: 110.87

R3: 111.40

Support levels:

S1: 108.68

S2: 108.14

S3: 107.30

Trading recommendations for today: watch for potential buying opportunities.

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