Recently, the USD/JPY pair has been trading sideways at 110.05. According to the 4H time frame, I found a hidden bullish divergence on the moving average oscilator, which is a sign that selling looks risky. My advice is to watch for potential buying opportuntiies. The upward targets are set at the price of 111.00 and 111.70
Resistance levels:
R1: 110.10
R2: 110.40
R3: 110.90
Support levels:
S1: 109.30
S2: 108.80
S3: 108.50
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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