FX.co ★ Technical Analysis of Daily Price Movement of USD/JPY Main Currency Pairs, Wednesday August 23 2023.

On the daily chart of the main USD/JPY currency pair, a deviation pattern can be seen between the price movement and the CCI Histogram indicator which coincidentally today coincides with the Mercury Retrograde phenomenon which generally provides Time Resistance for the currency pair so that in the next few days USD /JPY has the potential to go down to the turning point at the level of 144.94. If this level is successfully broken below then USD/JPY has the opportunity to continue weakening up to the level 141.64 as the main target and the level 138.08 as the second target but with a note that during the journey down there was no upward correction and above that exceeds the level of 146.57.

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