FX.co ★ USD/JPY analysis for March 22, 2018

Recently, the USD/JPY pair has been trading downwards. The price tested the level of 105.30. According to the 4H time – frame, I found a successful test of the 20-day low in the background, which is a sign that selling looks very risky. My advice is to watch for potential buying opportunities. The upward target is set at the price of 106.60.

Resistance levels:

R1: 106.49

R2: 106.95

R3: 107.25

Support levels:

S1: 105.73

S2: 105.42

S3: 104.97

Trading recommendations for today: watch for potential buying opportunities.