FX.co ★ USD/JPY analysis for June 03, 2022 - Potential for the bigger rally towards 131.30

Technical analysis:

USD/JPY has been trading upside in the background and I expect upside continuation. USD/JPY is building higher lows on hourly, which is good sign for further upside continuation.

Trading recommendation:

Due to the strong upside trend in the background and potential for the upside breakout, I see further rise on USD/JPY.

Watch for potential buying opportunities on the intraday dips.

Stochastic is showing fresh bull cross in the background, which is another good sign for further rise.

Key support is set at the price of 129.48