FX.co ★ USD/JPY analysis for March 24, 2017

Recently, the USD/JPY pair has been trading sideways at the price of 111.10. According to the 1H time frame, I found powerlessness from the buyers to move USD/JPY higher, which is a sign of weakness. The USD/JPY is in short – term bearish trend. My advice is to watch for selling opportunities. Targets are set at the price of 110.70 and 110.00.

Resistance levels:

R1: 111.40

R2: 111.65

R3: 112.00

Support levels:

S1: 110.70

S2: 110.50

S3: 110.10

Trading recommendations for today: watch for potential selling opportunities.