FX.co ★ USD/JPY analysis for August 24, 2023 - Potential completion of the downside ABC correction

Technical analysis:

USD/JPY has been trading upside this morning and I found test and reject of the support at the irce of 144.50, which is good sign for the potential upside movement.

Due to the potetnial completion of the ABC downside structure and oversold condition, I see potential for the further growth towards upside references.

Upside objectives are set at the price of 145.70 and 146.15

Stochastic oscillator is showing fresh bull cross and oversold condition, which is another good sign for the further upside movement.

Key support is set at the price of 144.50