FX.co ★ USD/JPY analysis for September 08, 2017

Recently, the USD/JPY pair has been trading downwards. The price tested the level of 107.40. According to the 30M time frame. I found no demand bars and that sellers are in control. I placed Fibonacci expansion to find potential downward target. I got Fibonacci expansion 161.8% at the price of 106.60. My advice is to watch for selling opportunities with the targets at 106.60 and 106.00.

Resistance levels:

R1: 109.15

R2: 109.80

R3: 110.35

Support levels:

S1: 107.90

S2: 107.40

S3: 106.70

Trading recommendations for today: watch for potential selling opportunities.