FX.co ★ USD/JPY analysis for February 24, 2022 - Breakout of multi week consolidation to the upside

Technical analysis:

USD/CAD has been trading upside today and I found the breakout of the 3-week long horizontal consolidation , which is strong sign for further upside movement.

Trading recommendation:

Due to the breakout of the well defined 3-week long horizontal consolidation, I see potential for the upside continuation.

Watch for potential buying opportunities on the dips using the intraday time-frames.

Upside objective is set at the price of 1,2950

Key support is set at the price of 1,2780