Recently, the USD/JPY pair has been trading downwards. The price tested the level of 105.30. According to the 4H time – frame, I found a successful test of the 20-day low in the background, which is a sign that selling looks very risky. My advice is to watch for potential buying opportunities. The upward target is set at the price of 106.60.
Resistance levels:
R1: 106.49
R2: 106.95
R3: 107.25
Support levels:
S1: 105.73
S2: 105.42
S3: 104.97
Trading recommendations for today: watch for potential buying opportunities.
