FX.co - USD/JPY analysis for February 13 2023 - Potential for the bigger uspide movement

2023-02-13T08:21:31

Relevance until2023-02-14

Technical analysis:

USD/JPY analysis for February 13 2023 - Potential for the bigger uspide movement

USD/JPY has been trading upside and I found the breakout of the key resistance zone at 131.80, which is strong sign that buyers are in control.

Trading recommendation:

Due to the breakout of the resistance zone and strong upside momentum, I see potential for the further rise.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at 134.50 and 137.20.

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

Support zone is set at 131.80

*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 February 13 2023 - Potential for the bigger uspide movement