Recently, the USD/JPY pair has been trading upwards. The price tested the level of 115.50. On the 30 time frame I found that buyers are in control and that selling looks risky. My advice is to watch for potential breakout of the resistance at 115.50 to confirm further upward continuation. I placed Fibonacci expansion to find potential upward target. I got Fibonacci expansion 100% at the price of 115.70.
Resistance levels:
R1: 115.20
R2: 115.90
R3: 115.95
Support levels:
S1: 114.50
S2: 114.00
S3: 113.73
Trading recommendations for today: watch for potential buying opportunities.
