LATEST ARTICLES

USD/JPY analysis for July 21, 2017

Posted On 21 Jul 2017
By :
Comment: 0
analytics597203fb2b573.png

Recently, the USD/JPY pair has been trading downwards. As I expected, the price tested the level of 111.26. According to the 4H time frame, the price is still making lower highs and lower lows, which is a sign that sellers are in control. Strong breakout of a rising wedge in the background is a strong technical signal for a further downward move. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 111.00 and 111.65.

Resistance levels:

R1: 111.68

R2: 112.00

R3: 112.20

Support levels:

S1: 111.15

S2: 111.95

S3: 110.60

Trading recommendations for today: watch for potential selling opportunities.

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

Source:: USD/JPY analysis for July 21, 2017

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply

*

[adrotate group="2"]
[adrotate group="15"]

InstaForex – Market Analysis

<a href="https://www.instaforex.com/">Forex Portal</a>

Like Us On Facebook

[adrotate banner= "75"]

Follow on Stocktwits

Follow Us on StockTwits

Connect

facebook
twitter
google-plus
youtube
linkedin
rss
Copyright © 2015 Forex Alchemy. All rights reserved.
Forexalchemy.com is made available as an online source of Foreign exchange trading information and related-materials only. By using ForexAlchemy you acknowledge and understand that we are not soliciting participation in Forex trading. You also acknowledge and agree that there are large potential risks associated with investment and trading activity and that you have accepted such risks before deciding to invest and before deciding to use ForexAlchemy as a source of trading-related information and materials. Please read our full disclaimer and terms of use before using this website:
Disclaimer & Terms of Use     Privacy Policy