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FX.co ★ USD/JPY broke 141.97 obstacle

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Forex Analysis

2023-07-31T18:49:20
iconRelevance until2023-08-01

USD/JPY broke 141.97 obstacle

USD/JPY broke 141.97 obstacle

USD/JPY Under Strong Upside Pressure!

The USD/JPY pair ended its downside movement and now it has registered a strong upwards movement. Now, it has jumped above its former high of 141.97 which represents an upside obstacle.

From the technical point of view, when the price jumps above an upside obstacle signals an upside continuation.

USD/JPY Trading Conclusion!

Jumping and stabilizing (consolidating) above 141.97 may announce further growth. The breakout was seen as a buying opportunity.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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