site map
rus
eng

USD/JPY analysis for February 17, 2017

analytics58a6e43cd4172.png

Recently, the USD/JPY pair has been trading downwards. The price tested the level 112.70. According to the 4H time frame, I found broken bearish flag in the background and expanded diagonal. There is also a hidden bearish divergence, which is another sign of weakness. My advice is to watch for selling opportunities on the pullbacks. The first downward target is set at the price of 111.60 (swing low).

Resistance levels:

R1: 113.30

R2: 113.48

R3: 113.75

Support levels:

S1: 112.80

S2: 112.65

S3: 112.40

Trading recommendations for today: watch for potential selling opportunities.

Performed by , Analytical expert
InstaForex Companies Group © 2007-2017
Back to the list

Link to source.