FX.co ★ USD/JPY analysis for April 18, 2017

Recently, the USD/JPY has been trading upwards. As I expected, the price tested the level of 109.07 and reached my first target. According to the 1H time frame, I found hidden bullish divergence in the background, which is a good sign for further upward movements. My advice is to watch for potential buying opportunities. The next upward target is set at the price of 109.37.

Resistance levels:

R1: 109.09

R2: 109.17

R3: 109.30

Support levels:

S1: 108.85

S2: 108.75

S3: 108.60

Trading recommendations for today: watch for potential buying opportunities.