Recently, the EUR/JPY pair has been trading downwards. The price tested the level of 131.81. According to the M30 time – frame, I found a fake breakout of 2-day low at the price of 131.85, which is a sign that selling looks risky. I also found a hidden bullish divergence on the LBR oscillator, which is another sign of weakness. My advice is to watch for potential buying opportunities.
Resistance levels:
R1: 132.45
R2: 132.83
R3: 133.13
Support levels:
S1: 131.76
S2: 131.47
S3: 131.09
Trading recommendations for today: watch for potential buying opportunities.
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