FX.co ★ USD/CAD analysis for January 06, 2022 - Inside day formation

Technical analysis:

USD/JPY has been trading sideways at the price of 115,85. I see potential for the upside breakout and upside continuation.

Trading recommendation:

Due to the bullish trend in the background, I would watch for buying opportunities in the case of the upside breakout of the resistance at 116,35.

In case of the upside breakout, watch for buying opportunities with the upside objectives at $116,80 and 117,50.

Support level is set at the price of 115,50