FX.co ★ USD/JPY analysis for December 07, 2023 - Downside breakout of the consolidation

Technical analysis:

USD/JPY has been trading downside today and I found breakout of the tight triangle in the background, which is good sign for the further drop.

Due to the strong downside breakout of the consolidation and the short-term downside trend, I see potential for the further drop towards lower reference.

Downside objective is set at the price of 144.60

RSI oscillator is showing downside range trend with no evidence for the bigger buyers.

Key resistance is set at the price of 147.45