FX.co ★ EUR/JPY analysis for April 14, 2017

Recently, the USD/JPY has been trading downwards. As I expected, the price tested the level of 114.60. According to the 4H time frame, I found that downward channel is still very active. Sellers are in control and my advice is to watch for potential selling opportunities. The first downward target is set at the price of 114.60.

Resistance levels:

R1: 115.85

R2: 116.00

R3: 116.25

Support levels:

S1: 115.45

S2: 115.30

S3: 115.05

Trading recommendations for today: watch for potential selling opportunities.