FX.co ★ USD/JPY analysis for July 21, 2022 - Breakout of the bulish flag pattern

Technical analysis:

USD/JPY has been trading upside as I expected. There is the breakout of the bullish flag pattern in the background and potential for further rise.

Trading recommendation:

Due to the strong upside trend in the background and breakout of the continuation-al pattern, I see further rise.

Watch for potential buying opportunities on the intraday dips with the next upside objectives at the price of 139.40 and 146.00.

MACD is showing strong buying pressure and potential for the new money flow to the upside.

Key support is set at the price of 137.45