What Kind Of Opportunities Can Traders Get From The USD/JPY Pair?

Market Trends and Currency Positioning: USD Net Short Position, Euro and Pound Analysis - 22.08.2023

Technical analysis:

USD/JPY has been trading sideways today at the price of 142.40 but I see potential for further upside continuatin of the trend.

Trading recommendation:

USD/JPY Is still in the strong upside cycle and it is true momentum leader.

I still see potential for bigger upside continuation towards upper references.

Watch for the buying opportunities on the intraday dips with the upside objectives at 145.00 and 147.00.

Stochatic oscillator is showing fresh upside cross from the oversold zone, which can be good sign for the further upside continuation.

Key support is set at the price of 141.50

 

 

Relevance up to 09:00 2022-09-14 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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Market Trends and Currency Positioning: USD Net Short Position, Euro and Pound Analysis - 22.08.2023

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