The US Dollar To Japanese Yen (USD/JPY) Pair Has Potential For Further Rally

Kuroda Stayed On The Sidelines And The Yen Responded With Losses

Technical analysis:

USD/JPY has been trading upside this morning after the strong rejection of the support at 143.50. I see potential for the upside continuation of the bigger upside trend.

Trading recommendation:

Due to the strong rejection of the support at 143.50 and breakout of the multi-hour range, I see potential for further rally.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of 144.90 and 145.25

Stochastic oscillator is showing fresh bull cross, which is good sign for further upside movement.

Key support is set at the price of 143.50-144

 

 

Relevance up to 09:00 2022-10-06 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.

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Kuroda Stayed On The Sidelines And The Yen Responded With Losses

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