The USD/JPY Pair Has The Potential For The Downside Movement

Technical analysis:
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USD/JPY has been trading upside over the Asia session but I see strong resistance at 135.60 and potential for the downside movement.

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Trading recommendation:

Due to the strong downside in the background and key resistance, I see potential for the the downside movement towards lower references.

Watch for the potential selling opportunities with the downside objective at 134.65.

Stochastic oscillator is showing overbought condition and potential for the downside movement.....

Key resistance is set at the price of 136.00

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Relevance up to 09:00 2022-12-16 UTC+1 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.

Read more: https://www.instaforex.eu/forex_analysis/305055