Recently, the USD/JPY has been trading sideways at the price of 109.08. On the 1H time frame I found hidden bullish divergence on the oscilators and broken supply trendline in the background, which is a sign that selling looks risky. My advice is to watch for potetnial buying opportunities. The upward targets are set at the levels of 109.40 and 109.85.
Resistance levels:
R1: 109.25
R2: 109.65
R3: 110.10
Support levels:
S1: 108.40
S2 :107.95
S3: 107.60
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com