Recently, the USD/JPY has been trading upwards. As I expected, the price reached my first target at 109.49. According to the 1H time frame, I still expect the USD/JPY pair to move higher. My advice is to watch for potential selling opportunities. The next upward target is set at the price of 109.85. There is a broken supply trendline and hidden bullish divergence in the background, which is a sign that selling looks risky.
Resistance levels:
R1: 109.50
R2: 109.65
R3: 110.00
Support levels:
S1: 108.85
S2: 108.70
S3: 1.0615
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the USD/JPY has been trading upwards. As I expected, the price reached my first target at 109.49. According to the 1H time frame, I still expect the USD/JPY pair to move higher. My advice is to watch for potential selling opportunities. The next upward target is set at the price of 109.85. There is a broken supply trendline and hidden bullish divergence in the background, which is a sign that selling looks risky.
Resistance levels:
R1: 109.50
R2: 109.65
R3: 110.00
Support levels:
S1: 108.85
S2: 108.70
S3: 1.0615
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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