Technical analysis of USD/JPY 10/13/2021

USD/JPY currency pair is moving in an uptrend on the weekly timeframe. Now quotes are in the area of ​​113.50. The technical picture suggests the development of an upward movement above 117.00 (2016 high). Convergence on the RSI indicator favors the growth of the pair.

The closest resistance is ​​the level of 114.40 (highs of 2017 – 2018).

The nearest support is at the level 111.40.

Cancellation of the option for the development of the growth of the pair will be a decrease in quotes below the level of 109.00, what will indicate a breakdown of the lower line of the ascending channel and (MA 200).

USDJPY_STPWeekly (2)

Created by Joshua Hayn

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