USD/JPY analysis for May 04, 2023 – Potential for the further downside movement
May 4, 2023 7:25 am
Technical analysis:
USD/JPY has been trading downside as I expected and the first upside objective has been reached at 135.00. Anyway, I see potential for the lower prices towards 133.35.
Due to the strong downside momentum and no signs for the reversal, I see potential for the further downside movement towards lower reference.
Next major downside objective is set at the price of 133.35
MACD is showing negative reading, which is sign that sellers are still in control.
Intraday resistance is set at the price of 135.00
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
USD/JPY
has been trading
downside
as I expected and the first upside objective has been reached at
135.00.
Anyway, I see potential for the lower
prices towards 133.35.
Due
to the strong downside momentum and no
signs for the reversal, I see potential for the further downside
movement towards lower reference.
Next
major downside
objective is set at the price of 133.35
MACD
is showing negative reading, which is sign that sellers are still in
control.
Intraday
resistance is set at the price of 135.00
The material has been provided by InstaForex Company – www.instaforex.com
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