Recently, the USD/JPY has been trading upwards. As I expected, the price tested the level of 109.07 and reached my first target. According to the 1H time frame, I found hidden bullish divergence in the background, which is a good sign for further upward movements. My advice is to watch for potential buying opportunities. The next upward target is set at the price of 109.37.
Resistance levels:
R1: 109.09
R2: 109.17
R3: 109.30
Support levels:
S1: 108.85
S2: 108.75
S3: 108.60
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com