USD/JPY analysis for November 02, 2017

Recently, the USD/JPY has been trading sideways at the price of 114.07. According to the 15M time — frame, I found broken pivot level at the price of 114.02, which is a sign that buyers are in control today. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 114.43 (pivot resistance 1) and at thep rice of 114.70 (pivot resistnace 2).

Resistance levels:

R1: 114.43

R2: 114.70

R3: 115.10

Support levels:

S1: 113.75

S2: 113.35

S3: 113.10

Trading recommendations for today: watch for potential buying opportunities.

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