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FX.co ★ USD/JPY analysis for December 12, 2023 - Key support on the test

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Forex Analysis

12 December 2023 at 8:06AM (UTC+0)
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USD/JPY analysis for December 12, 2023 - Key support on the test

Technical analysis:

USD/JPY analysis for December 12, 2023 - Key support on the test

USD/JPY has been trading downside today but I see that key support at the price of 145.24 is on the test.

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In case of the rejection of the support line at 145.24, there is the chance for the rally towards 146.55 and 147.30

In case of the downside breakout of the 145.24, there is the chance for the potential drop towards 143.95

RSI oscillator is showing upside range development and bounce of the 40 level, which is good sign for the higher prices.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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