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Analysis of USD/JPY for May 31, 2023 – Rerversal down day and potential for downside movement
May 31, 2023 9:23 amVideo
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Technical
analysis:
USD/JPY
has been trading downside
yesterday and I found the reversal down day at the key resistance at
the price of 141.00.
Due
to the extended run condition and reversal day from yesterday, I see
potential for the downside movement towards downside reference.
Downside
objective
is
set at the price of 138.00
MACD
oscillator is showing decreasing in the upside momentum, which is
good sign for the further downside movement.
Resistance
is set at the price of 141.00
The material has been provided by InstaForex Company – www.instaforex.com
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