FX.co ★ USD/JPY analysis for October 24, 2022 - Rejection of the support in the background and potential for bullish continuation

Technical analysis:

USD/JPY has been trading upside today after the big selling climax from the Friday. I see potential for the upside movement towards upside references.

Trading recommendation:

Due to the rejection of the 145.70 and building higher lows today, I see potential for further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at 149.70 and 151.10.

MACD oscillator is showing decreasing in the downside movement, which is good sign that sellers are losing power.

Key support is set at the price of 145.60 and intraday support is set at 148.55