Recently, the USD/JPY has been trading upwards. The price tested the level of 109.28. According to the M30 time frame, I found a series of higher highs and higher lows, which is a sign that buyers are in control. The price broke the upper band of the keltner channel, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 109.50.
Resistance levels:
R1: 108.42
R2: 109.77
R3: 110.00
Support levels:
S1: 108.85
S2: 108.60
S3: 108.25
Trading recommendations for today: watch for potential buying opportunities.
