FX.co - USD/JPY analysis for December 19, 2022 - Potential for the upside movement

2022-12-19T09:33:19

Relevance until2022-12-20

Technical analysis:

USD/JPY analysis for December 19, 2022 - Potential for the upside movement

USD/JPY has been trading inside of the downside channel but I found the exhaustion and potential for the further rally.

Trading recommendation:

Due to potential exhaustion pattern this morning, I see potential for the further rally towards upper references.

Watch for buying opportunities on the intraday dips with the upside objective at 136.34, 137.75 and 138.00

Key support is set at the price of 135.75

*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 December 19, 2022 - Potential for the upside movement