The USD/JPY Pair Has Potential Breakout To The Upside And Further Bullish Mood

ECB's Knot: July Rate Hike Necessary, Beyond July Uncertain; Canadian CPI Supports Rates on Hold; Global Crypto Market at $1.2 Trillion; Oil Market Tightens with Russian Shipments Drop and China's Support Measures

Technical analysis:

 

 

USD/JPY has been trading sideways in last few days and there is the symmetrical triangle pattern in creation. Watch for potential breakout to the upside.

Trading recommendation:

Due to the upside cycle on the USD/JPY and potential for the breakout of the triangle watch for the upside breakout to confirm further bull continuation.

Watch for the potential buying opportunities in case of the upside breakout.

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

Key support is set at the price of 142.50

 

Relevance up to 08:00 2022-09-20 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.

Read more: https://www.instaforex.eu/forex_analysis/293201

ECB's Knot: July Rate Hike Necessary, Beyond July Uncertain; Canadian CPI Supports Rates on Hold; Global Crypto Market at $1.2 Trillion; Oil Market Tightens with Russian Shipments Drop and China's Support Measures

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