Recently, the USD/JPY pair has been trading upwards. The price tested the level of 111.91. According to the 1H time frame, I found the broken symmetrical triangle pattern, which is a sign that buyers are in control. My advice is to watch for potential buying opportunties. The projected target is set at the price of 112.40.
Resistance levels:
R1: 111.85
R2: 111.90
R3: 112.00
Support levels:
S1: 111.70
S2: 111.60
S3: 111.55
Trading recommendations for today: watch for potential buying opportunities.
