You are here: Home > articles > Forex > USD/JPY analysis for May 23, 2023 – Breakout of the rising trendline and potential for the downside movement
USD/JPY analysis for May 23, 2023 – Breakout of the rising trendline and potential for the downside movement
May 23, 2023 7:22 amVideo
Latest News
- The market rushed the Fed and was sorely mistaken April 11, 2024
- The June issue can be considered a closed case April 10, 2024
- Dollar spreads its wings April 10, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 10-15, 2024: sell below $69,000 (3/8 Murray – bullish wedge) April 10, 2024
- Is there a possibility of no Fed rate cuts this year? – Special Report April 10, 2024
- Technical Analysis – Citigroup stock pulls back ahead of earnings April 10, 2024
- Trading Signals for Ethereum (ETH/USD) for April 10-15, 2024: sell below $2,364 (3/8 Murray – symmetrical triangle) April 10, 2024
- EUR/USD and GBP/USD: Technical analysis on April 10 April 10, 2024
- Technical Analysis – USDJPY flies to new 34-year high April 10, 2024
- Technical Analysis – AUDCAD rebounds strongly from uptrend line April 10, 2024
- Banks Q1 earnings: Weak results despite stock outperformance – Stock Markets April 10, 2024
- Forex forecast 04/10/2024: EUR/USD, NZD/USD, USD/CAD and Oil from Sebastian Seliga April 10, 2024
- Technical Analysis – EURCHF eases slightly after 1-year peak April 10, 2024
- GBP/USD on April 10. USD does not rely on traders’ support April 10, 2024
- Technical Analysis – Is CADJPY setting the stage for its next bull run? April 10, 2024
- Technical Analysis – Is CADJPY setting the ground for its next bull run? April 10, 2024
- Technical Analysis – USDJPY flirts with intervention zone April 10, 2024
- Market Comment – Dollar and equities trade higher in anticipation of US CPI release April 10, 2024
- Technical Analysis – EURUSD oscillates within a sideways range April 10, 2024
- Technical Analysis – Gold attempts to unlock new high April 10, 2024
Technical
analysis:
USD/JPY has
been trading upside yesterday but I found the fake breakout of the
resistance at 138.70 and potential for the downside movement.
Due
to fake
breakout of the resistance in the background and the breakout of the
rising trend-line, I see potential for the further downside movement
towards lower references.
Downside
objective is set at the price of 137.50
Stochastic
oscillator is showing fresh bearish
divergence with the potential for the downside movement.
Key
resistance is set at the price of 138.80
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: