Recently, the USD/JPY pair has been trading downwards. The price tested the level 113.88. According to the daily time frame, I found pinbar and rejection from support at the price of 111.75. My adice is to watch for potential buying opportunities on the dips. Upward target is set at the price of 114.94.
Resistance levels:
R1: 112.90
R2: 113.20
R3: 113.65
Support levels:
S1: 112.00
S2: 111.70
S3: 111.25
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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