FX.co ★ Analysis of USD/JPY for May 01, 2017

Recently, the USD/JPY pair has been trading upwards. The price tested the level of 111.91. According to the 1H time frame, I found the broken symmetrical triangle pattern, which is a sign that buyers are in control. My advice is to watch for potential buying opportunties. The projected target is set at the price of 112.40.

Resistance levels:

R1: 111.85

R2: 111.90

R3: 112.00

Support levels:

S1: 111.70

S2: 111.60

S3: 111.55

Trading recommendations for today: watch for potential buying opportunities.