FX.co - USD/JPY analysis for September 20, 2022 - Potential breakout of symmetrical triangle pattern for further growth

2022-09-20T06:38:12

Relevance until2022-09-21

Technical analysis:

USD/JPY analysis for September 20, 2022 - Potential breakout of symmetrical triangle pattern for further growth

USD/JPY has been trading sideways at the price of 143.40 but I see potential for the bigger upside movement towards 147.00 level.

Trading recommendation:

Due to the tight symmetrical triangle in creation in the strong upside trend, I see potential for further strong growth on USD/JPY.

Watch for the potential buying opportunities in the casse of the breakout of the triangle.

Upside objectives are set at the price of 145 and 147

Stochastic oscillator is showing fresh upside cross from, which is good sign for further upside continuation.

Key support is set at the price of 141.60

*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 September 20, 2022 - Potential breakout of symmetrical triangle pattern for further growth