FX.co ★ USD/JPY analysis for June 22, 2023 - Potential for the upside movement

Technical analysis:

USD/JPY has been trading upside this morning and I see potential for the further rally today due to the breakout of the downside channel.

Due to the breakout of the downside channel and the bullish trend on the short and mid term horizon, I see potential for the further growth towards upper references.

Upside objective is set at the price of 142.35

MACD oscillator is showing increasing in the upside momentum, which is good confirmation for the further upside movement.

Intraday support is set at the price of 141.65