FX.co - USD/JPY analysis for April 12, 2023 - Key resistance at the price of 133.85 on the test

2023-04-12T06:43:31

Relevance until2023-04-13

Technical analysis:

USD/JPY analysis for April 12, 2023 - Key resistance at the price of 133.85 on the test

USD/JPY has been trading at the resistance level at the price of 133.85 and I see potential for the downside rotation.

Due to the strong resistance at the price of 133.85 and no bigger breakout, I see potential for the downside movement.

Downside objectives are set at the price of 133.00 and 132.10

MACD oscillator is showing bearish divergence, which is good sign for the further downside movement.

Short-term resistance is set at the price of 133.85

*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 April 12, 2023 - Key resistance at the price of 133.85 on the test