USD/JPY analysis for May 09, 2023 – Potential for the further downside movement
May 9, 2023 7:23 am
Technical analysis:
USD/JPY has been downside this morning and I found the breakout of the triangle pattern in the downside trend, which is good sign for the further downside continuation.
Due to the strong downside swing in the background and no power from buyers to go above the resistance level at 135.30, I see potential for the further drop.
Downside objective is set at the price of 133.70
Stochastic oscillator is showing downside reading, which is good sign for the further downside movement.
Key resistance is set at the price of 133.73
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
USD/JPY
has been downside
this morning and I found the breakout of the triangle pattern in the
downside trend, which is good sign for the further downside
continuation.
Due
to the strong downside swing in the background and no power from
buyers to go above the resistance level at 135.30, I see potential
for the further drop.
Downside
objective is set at the price of 133.70
Stochastic
oscillator is showing downside
reading, which is good sign for the further downside movement.
Key
resistance is set at the price of 133.73
The material has been provided by InstaForex Company – www.instaforex.com
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