FX.co ★ USD/JPY analysis for October 24, 2023 - Ascending triangle in creation

Technical analysis:

USD/JPY has been trading sideways at the price of 149.60 and I see potential for the breakout mode due to consolidation in creation.

In case of the upside breakout of the resistance at 149.80, I see potential for the further growth towards the level of 150.30 and 150.70

In case of the breakout of the support at 149 and hold below, I see potential for the drop towards 148 and 147.50

RSI oscillator is showing neutral reading, which is another sign of the indecision.