Recently, the USD/JPY pair has been trading downwards. As I expected, the price tested the level of 111.06. According to the 30M time - frame, I found that price is trading below the pivot level at the price of 111.61. I also found a symmetrical triangle in creation, which is a sign that price is consolidating. My advice is to watch for a potential bearish breakout of the triangle to confirm a further downward movement. The downward targets are set at the price of 110.75 (pivot support 1) and at the price of 110.26 (support 2).

Resistance levels:

R1: 112.09

R2: 112.97

R3: 113.44

Support levels:

S1: 110.74

S2: 110.26

S3: 109.39

Trading recommendations for today: watch for potential selling opportunities.