FX.co ★ Analysis of USD/JPY for March 10, 2017

Recently, the USD/JPY pair has been trading upwards. The price tested the level of 115.50. On the 30 time frame I found that buyers are in control and that selling looks risky. My advice is to watch for potential breakout of the resistance at 115.50 to confirm further upward continuation. I placed Fibonacci expansion to find potential upward target. I got Fibonacci expansion 100% at the price of 115.70.

Resistance levels:

R1: 115.20

R2: 115.90

R3: 115.95

Support levels:

S1: 114.50

S2: 114.00

S3: 113.73

Trading recommendations for today: watch for potential buying opportunities.