Recently, the USD/JPY pair has been trading sideways at the price of 112.58. According to the 30M time - frame, I found that price rejected from the Fibonacci retracement 61.8% at the level of 112.35, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. I have placed Fibonacci expansion to find potential upward targets. I found Fibonacci expansion 61.8% at the price of 112.80 and Fibonacci expansion 100% at the price of 113.10.
Resistance levels:
R1: 112.80
R2: 113.08
R3: 113.33
Support levels:
S1: 112.28
S2: 112.03
S3: 111.76
Trading recommendations for today: watch for potential buying opportunities.
