Recently, the USD/JPY pair has been trading downwards. The price tested the level of 107.40. According to the 30M time frame. I found no demand bars and that sellers are in control. I placed Fibonacci expansion to find potential downward target. I got Fibonacci expansion 161.8% at the price of 106.60. My advice is to watch for selling opportunities with the targets at 106.60 and 106.00.
Resistance levels:
R1: 109.15
R2: 109.80
R3: 110.35
Support levels:
S1: 107.90
S2: 107.40
S3: 106.70
Trading recommendations for today: watch for potential selling opportunities.