Recently, the USD/JPY pair has been trading sideways at the price 113.20. Anyway, according to the 4H time frame, I found a breakout of rising wedge in the background, which is a sign that buying looks risky. My advice is to watch for selling opportunities. The downward target is set at the price of 112.85.
Resistance levels:
R1: 113.50
R2: 113.65
R3: 113.75
Support levels:
S1: 113.25
S2: 113.35
S3: 113.00
Trading recommendations for today: watch for potential selling opportunities.
