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Forex Analysis: 20 Mar 2017, 07:58 UTC+00

USD/JPY analysis for March 20, 2017

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Recently, the USD/JPY pair has been trading downwards. The price tested the level 112.43. Anyway, according to the 15M time frame, I found hidden bullish divergence on the moving average oscilator and a broken falling wedge (bullish). My advice is to watch for potential buying opportunities. Targets are set at the price of 113.15 and 113.40.

Resistance levels:

R1: 112.73

R2: 112.77

R3: 112.85

Support levels:

S1: 112.60

S2: 112.55

S3: 112.50

Trading recommendations for today: watch for potential buying opportunities.


Performed by
analytical expert: Petar Jacimoviс
InstaForex Group © 2007-2017
 Published: 20 Mar 2017, 07:58 UTC+00

 
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