Recently, the USD/JPY pair has been trading upwards. The price tested the level of 112.01. According to the 30M time frame, I found a breakout of the overnight trading range, which is a sign that buyers are in control. There is also a successful test of yesterday's low at the price of 111.45, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target are set at the price of 112.35 and 112.50.
Resistance levels:
R1: 112.35
R2: 112.95
R3: 113.40
Support levels:
S1: 111.30
S2: 110.85
S3: 110.25
Trading recommendations for today: watch for potential buying opportunities.
