FX.co ★ USD/CAD analysis for June 01, 2023 - Broken trendline and potential for further downside movement

Technical analysis:

USD/JPY has been trading downside yesterday and I found the breakout of the upside channel in the background, which is good sign for the further lower prices.

Due to the breakout of the trend-line and successful test of resistance, I see potential for the downside movement towards downside references.

Downside objective is set at the price 137.75

MACD oscillator is showing downside reading, which is good sign for the further lower prices....

Key resistance is set at the price of 140.90