FX.co ★ USD/JPY analysis for June 15, 2023 - Breakout of the triangle pattern in the background to the upside

Technical analysis:

USD/JPY has been trading upside today and I found breakout of the tight triangle pattern to the upside, which is good sign for potential growth towards upside references.

Due to the strong upside momentum and the breakout of the tight triangle pattern in the background, I see potential for the further growth towards upside references.

Upside objectives are set at the price of 142.60 and 145.20

RSI oscillator did show hidden bullish divergence in the background, which is another good sign of the weak supply and strong demand.

Support is set at the price of 138.85