Recently, the USD/JPY pair has been trading sideways at the price of 112.25. Anyway, according to the 30M time – frame, I found that sellers are in control. There is a rising in ADX in last downward leg, which is a sign of weakness. My advice is to watch for potential selling opportuntiies. I placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 61.8% at the price 112.05, Fibonacci expansion 100% at the price of 111.75 and Fibonacci expansion 161.8% at the price of 111.25.
Trading recommendations for today: watch for potential selling opportunities.
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