FX.co - USD/JPY analysis for January 17, 2022 - Potential for bigger upside movement

2022-01-17T12:53:20

Relevance until2022-01-18

Technical analysis:

USD/JPY analysis for January 17, 2022 - Potential for bigger upside movement

USD/JPY is breaking intraday pivot at the price of 114,53 and there is chance for bigger upside movement towards 115,05.

Trading recommendation:

Due to short-term upside trend and breakout of pivot, my advice is to watch for buying opportunities on the pullbacks.

Upside objectives are set at the price of 115,05 and 115,45

Stochastic oscillator is showing another fresh bull cross above the 80 level, which is sign that buyers are very strong.

Key support is set at thee price of 114,30

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ USD/JPY analysis for January 17, 2022 - Potential for bigger upside movement