FX.co ★ USD/JPY analysis for May 22, 2017

Recently, the USD/JPY pair has been trading sideways at the price of 111.40. Anyway, I found a supply trend line, which is holding very well. My advice is to watch for potential selling opportunities. The short-term trend is still downward. Downward targets are set at the price of 111.05 (Friday's low) and 110.25.

Resistance levels:

R1: 111.35

R2: 111.42

R3: 111.55

Support levels:

S1: 111.10

S2: 111.00

S3: 110.90

Trading recommendations for today: watch for potential selling opportunities.