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Analysis of USD/JPY for June 29, 2017

Posted On 29 Jun 2017
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Recently, the USD/JPY pair has been trading upwards. The price tested the level of 112.74 in a high volume. According to the 30M time frame, I found a bullish trend and a successful test of the horizontal base. The price also broke the 4H Camarilla resistance, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 112.90 and 113.10.

Resistance levels:

R1: 112.75

R2: 112.95

R3: 113.20

Support levels:

S1: 112.25

S2: 111.90

S3: 111.75

Trading recommendations for today: watch for potential buying opportunities.

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

Source:: Analysis of USD/JPY for June 29, 2017

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