USD/JPY analysis for July 20, 2018
Recently, USD/JPY has been trading downwards. The price tested the level of 112.05. Anyway, acording to the H1 time – frame, I found a potential upward correction in progress (abc flat). My advice is to watch for potential downward opportunities. The strong resistance is found at the price of 112.65. The downward target is set at the price of 112.06.
Resistance levels: R1: 113.00R2: 113.60 R3: 114.00
Support levels: S1: 111.90S2: 111.47S3: 100.85
Trading recommendations for today: watch for potential selling opportunities.