FX.co ★ USD/JPY analysis for May 09, 2023 - Potential for the further downside movement

Technical analysis:

USD/JPY has been downside this morning and I found the breakout of the triangle pattern in the downside trend, which is good sign for the further downside continuation.

Due to the strong downside swing in the background and no power from buyers to go above the resistance level at 135.30, I see potential for the further drop.

Downside objective is set at the price of 133.70

Stochastic oscillator is showing downside reading, which is good sign for the further downside movement.

Key resistance is set at the price of 133.73