USD/JPY analysis for May 24, 2023 – Key resistance cluster on the test
May 24, 2023 9:22 am
Technical analysis:
USD/JPY has been trading sideways at the price of 138.63 but I found rejection of the key resistance cluster at 138.90, which is good sign for the further downside movement.
Due to the rejection of the key resistance and short-term overbought condition, I see potential for the downside movement towards lower references.
Downside objcevtive is set at hte price of 137.55
RSI oscillator is showing overbought condition….
Key resistance is set at the price of 138.90
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
USD/JPY has
been trading sideways
at the price of 138.63 but I found rejection of the key resistance
cluster at 138.90, which is good sign for the further downside
movement.
Due
to the rejection of the key resistance and short-term overbought condition, I see potential for the downside movement towards lower
references.
Downside
objcevtive is set at hte price of 137.55
RSI
oscillator is showing overbought condition….
Key
resistance
is set at the price of 138.90
The material has been provided by InstaForex Company – www.instaforex.com
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