FX.co ★ USD/JPY analysis for July 26, 2022 - Breakout of the symmetrical triangle to the upside

Technical analysis:

USD/JPY has been trading upside this morning and there is the breakout of the symmetrical triangle, which is good confirmation for further upside movement.

Trading recommendation:

Due to the breakout regime to the upside, I see potential for the upside movement.

Watch for potential buying opportunities on the intraday dips and potential for the further rally.

Upside objectives are set at the price of 137.97 and 138.70.

Stochastic oscillator is showing fresh bull cross, which is another sign for the upside movement.

Key support is set at the price of 136.35