FX.co ★ USD/JPY analysis for March 02, 2017

Recently, the USD/JPY pair has been trading downwards. As I expected, the price tested the level 114.44. According to the daily time frame, there is still space for higher price. My advice is to watch for potential buying opportunities on retracements. Upward targets are set at the price of 114.90 (evening start like resistance) and 115.35 (swing high from the background).

Resistance levels:

R1: 114.30

R2: 114.85

R3: 115.65

Support levels:

S1: 112.95

S2: 112.15

S3: 111.60

Trading recommendations for today: watch for potential buying opportunities.