Recently, the USD/JPY pair has been trading downwards. The price tested the level of 112.41. I found successful rejection of the major median line in the backgrorund, which is a sign that buying looks risky. I also found a broken smaller upward channel inside of the larger channel, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 112.10 and at the price of 111.75.
Trading recommendations for today: watch for potential selling opportunities.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Petar Jacimovic,
InstaForex Group © 2007-2017
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