Recently, the USD/JPY pair has been trading upwards. The price tested the level of 109.24. According to the H1 time – frame, I found a broken supply trendline and potentially a broken bullish flag in the background, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward target is set at the price of 109.90.
Resistance levels:
R1: 1.1730
R2: 1.1770
R3: 1.1812
Support levels:
S1: 1.1650
S2: 1.1605
S3: 1.1565
Trading recommendations for today: watch for potential buying opportunities.