FX.co ★ Analysis of Gold for December 13, 2023 - Upside potential towards 146.60

Technical analysis:

USD/JPY has been trading upside this morning and I found rejection of the support at 145.20 in the background, which is good sign for the further upside continuation.

Due to the rejection of the support in the background and upside reading on RSI oscillator, I see potential for the further rally towards upside references,

Upside objectives are set at the price of 146.60 and 147.30

RSI oscillator is showing upside trend condition and downside swing didn't have power to break and hold below 40 mark, which is good sign for the further rally.

Support zone is set around the price of 145.00