Recently, the USD/JPY has been trading downwards. The price tested the level of 110.52. According to the 30M time – frame, I found the rejection of intraday support cluster at the price of 110.57. I aslo found a hidden bullish divergence on the moving average oscillator, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 111.10 and at the price of 111.25.
Resistance levels:
R1: 111.52
R2: 112.00
R3: 112.30
Support levels:
S1: 110.73
S2: 110.42
S3: 109.95
Trading recommendations for today: watch for potential buying opportunities.
