FX.co ★ USD/JPY analysis for October 21, 2022 - First upside objective has been reached, potential for further growth

Technical analysis:

USD/JPY has been trading upside as I expected and the price has reached the first upside objective around 150 level. Anyway, I see potential for further upside movement due to the strong upside momentum and upside cycle.

Trading recommendation:

Due to the strong upside pressure and higher lows in the background, I see potential for further growth.

Watch for the potential buying opportunities on the intraday dips with the main upside objective at 151 and 159.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 150