FX.co ★ USD/JPY analysis for October 09, 2023 - Potential for the further rally

Technical analysis:

USD/JPY has been trading sideways at the price of 149.15 but I see potential for the further rally towards upside references.

Due to the breakout of the resistance at 149.00 and successful hold above that level, I see potential for the further upside continuation towards upside references.

Upside objectives are set at the price of 149.55 and 150.15

RSI oscillator is showing positive trend and reading above 50, which is good sign for the further rally.

Support is set at the price of 149.00