FX.co ★ USD/JPY analysis for October 19 2022 - Breakout of the range to the upside

Technical analysis:

USD/JPY has been trading upside as I expected and the price is heading towards first upside objective at 150.00/

Trading recommendation:

Due to the strong upside pressure and the breakout of the most recent range, I see potential for bigger growth.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of 150 and 159

Stochastic oscillator is showing fresh bull cross, which is strong sign that buyers are in control.

Key support is set at the price of 148.70