FX.co ★ USD/JPY analysis for May 31, 2017

Recently, the USD/JPY pair has been trading sideways at the price of 110.90. Anyway, according to the 30M time frame, I found a breakout of the key swing low in the background, which is a sign that buying looks risky. My advice is to watch for potential selling opportuntiies. The downward target is set at the price of 110.30.

Resistance levels:

R1: 111.20

R2: 111.40

R3: 111.65

Support levels:

S1: 111.70

S2: 110.50

S3: 110.25

Trading recommendations for today: watch for potential selling opportunities.