USD/CAD analysis for June 01, 2023 – Broken trendline and potential for further downside movement
June 1, 2023 8:23 am
Technical analysis:
USD/JPY has been trading downside yesterday and I found the breakout of the upside channel in the background, which is good sign for the further lower prices.
Due to the breakout of the trend-line and successful test of resistance, I see potential for the downside movement towards downside references.
Downside objective is set at the price 137.75
MACD oscillator is showing downside reading, which is good sign for the further lower prices….
Key resistance is set at the price of 140.90
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
USD/JPY
has been trading downside yesterday and I found the breakout of the
upside channel in the background, which is good sign for the further
lower prices.
Due
to the breakout of the trend-line and successful test of resistance, I see potential for the downside movement towards downside references.
Downside
objective is set at the price 137.75
MACD
oscillator is showing downside
reading, which is good sign for the further lower prices….
Key
resistance is set at the price of 140.90
The material has been provided by InstaForex Company – www.instaforex.com
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