FX.co - USD/JPY analysis for October 14 2022 - Breakout of the range and potential for further bigger growth

2022-10-14T08:41:39

Relevance until2022-10-15

Technical analysis:

USD/JPY analysis for October 14 2022 - Breakout of the range and potential for further bigger growth

USD/JPY has been trading upside as I expected, the price has reached upside objective at the price of 147.65 but I see potential for further rally.

Trading recommendation:

Due to the strong upside momentum and upside trend, I see further upside movement and further growth.

Watch for the buying opportunities on the intraday dips with the upside objective at the price of 150.00.

MACD oscillator is showing upside reading, which is sign that buyers are in control.

Support is set at the price of 147.00

*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 October 14 2022 - Breakout of the range and potential for further bigger growth