FX.co ★ USD/JPY analysis for February 15, 2023 - Buyers in control

Technical analysis:

USD/JPY has been trading upside as I expected and the price is getting closer to my first upside objective at 134.55. I still see potential for further growth.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the resistance zone in the background, I see potential for the further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at 134.55 and 137.25

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

Short-term support is set at 132.70