Recently, the USD/JPY pair has been trading sideways at the price of 110.90. Anyway, according to the 30M time frame, I found a breakout of the key swing low in the background, which is a sign that buying looks risky. My advice is to watch for potential selling opportuntiies. The downward target is set at the price of 110.30.
Resistance levels:
R1: 111.20
R2: 111.40
R3: 111.65
Support levels:
S1: 111.70
S2: 110.50
S3: 110.25
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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