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USD/JPY analysis for July 18, 2023 – Exhaustion of sellers and upside momentum
August 18, 2023 9:26 amVideo
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Technical
analysis:
USD/JPY
has been trading upside
this morning and I found breakout of the downside channel, which is
good sign for the further upside movement.
Due
to the exhaustion of the sellers and the upside breakout of the
channel, i see potential for the further growth towards upside
references.
Upside
objectives are set at the price of 145.61, 145.86 and 146.20
Stochastic
oscillator is showing oversold condition and fresh bull cross, which is good confirmation for the
further rally.
Key
support is set at the price of 145.10
The material has been provided by InstaForex Company – www.instaforex.com
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