Recently, the USD/JPY has been trading downwards. As I expected, the price tested the level of 112.39. According to the 30M time - frame, I found that price is trading below the pivot level (113.04), which is a sign that sellers are in control. I also found an intraday bearish flag in creation, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward target is set at the price of 112.15.
Resistance levels:
R1: 113.34
R2: 113.67
R3: 113.94
Support levels:
S1: 112.75
S2: 112.44
S3: 112.15
Trading recommendations for today: watch for potential selling opportunities.
