FX.co ★ USD/JPY analysis for November 29, 2023 - Downside continuation in the play

Technical analysis:

USD/JPY has been trading upside this morning but I see potential for the downside continuation of the well defined multi-day trend in the background.

Due to the downside trend in the background and the negative reversals on RSI oscillator, I see potential for the further drop towards lower references.

Downside objectives are set at the price of 146.75 and 146.00

RSI oscillator is showing negative reversals, which is good sign for the the further downside continuation.

Key resistance is set at the price of 147.70