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USD/JPY analysis for July 14, 2017

July 14, 2017
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Recently, the USD/JPY pair has been trading sideways at the price 113.20. Anyway, according to the 4H time frame, I found a breakout of rising wedge in the background, which is a sign that buying looks risky. My advice is to watch for selling opportunities. The downward target is set at the price of 112.85.

Resistance levels:

R1: 113.50

R2: 113.65

R3: 113.75

Support levels:

S1: 113.25

S2: 113.35

S3: 113.00

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

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