FX.co ★ USD/JPY analysis for October 20, 2022 - Strong upside condiiton and potetnial for bigger growth

Technical analysis:

USD/JPY has been trading upside as I expected and the market is getting closed to the upside objectives. I still see potential for the upside movement.

Trading recommendation:

Due to the strong upside momentum and upside cycle, I see potential for further big growth.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at 150.50, 151.00 and 159

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

Support is set at the price of 149.65