FX.co ★ USD/JPY analysis for October 04 2022 - Broken triangle patterin the background

Technical analysis:

USD/JPY has been trading sideways at the price of 144.67 but there was the breakout of the triangle in the background, which is good sign for further upside movement.

Trading recommendation:

Due to the strong upside trend in the background and the breakout of the triangle pattern in the background, I see further upside movement.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price 145.25 and 145.85.

Stochastic oscillator is showing fresh bull break, which is good sign for further rally.

Key support is set at the price of 144.15