The USD/JPY Pair Has Potential For Further Bigger Rally Towards Upside References
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Technical analysis:
USD/JPY has been trading upside in the background and I found the brekaout of the tight balance triangle, which is good sign that market is ready for another upside swing.
Trading recommendation:
Due to the strong upside condition and the breakout of the contraction to the upside, I see potential for further bigger rally towards upside references.
Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of 145.90, 147 and 147.50.
MACD oscillator is showing fresh upside flow, which is good sign for further upside movement.
Key support is set at the price of 144.20
Relevance up to 08:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
