FX.co - USD/JPY analysis for December 22, 2023

22 December 2023 at 8:15AM (UTC+0)

Relevance until23 December 2023 at 8:15AM (UTC+0)

Technical analysis:

USD/JPY analysis for December 22, 2023 - Potential for the rally

USD/JPY has been trading downside but I found rejection of the key support at 412.00 and potential for the rally in the next period.

Due to the rejection of the key support and the RSI bullish divergences, I see potential for the further rally towards upside reference.

Upside objective is set at the price of 143.35

RSI oscillator is showing bullish divergences around 40 level, which is good sign for the further upside movement.

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

Analytical expert

Petar Jacimovic

FX.co ★ USD/JPY analysis for December 22, 2023 - Potential for the rally