Recently, the USD/JPY has been downwards. As I expected, the price tested the level of 112.26. The first downward target at 112.85 has been reached. Anyway, according to the 4H time frame, I found a successful breakout of support and re-test, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities with the target at the price of 111.75.
Trading recommendations for today: watch for potential selling opportunities.
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Performed by Petar Jacimovic, Analytical expert
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.