FX.co ★ Technical Analysis of Weekly Price Movement of USD/JPY Main Currency pairs, Monday July 24, 2023.

If we look at the weekly chart of the main USD/JPY currency pair, it can be seen that a Bullish 123 pattern appeared, followed by a Bullish Ross Hook, followed by CCI which managed to break above all three levels (-100, 0, 100) so that in the next few weeks it seems that USD/JPY will try to test the 145.08 level and if this level is successfully broken, then the next level will try to go to 151.95 but all of these scenarios will fall if on its way to target levels suddenly USD/JPY JPY was corrected down past the level of 135.65 because if this level is broken down then all the Bull scenarios that have been described previously will become invalid and automatically cancel by themselves.

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