Technical analysis of USD/JPY 12/09/2022
The USD/JPY currency pair on the (1D) chart shows a downward correction within an uptrend. As part of the correction, the price found support at the level of 133.50 (38.2% Fibo area), (MA200) and is currently consolidating around 136.00.
If the pair manages to consolidate below the level of 133.00 (38.2% Fibo), (MA200), technically it will mean the development of a downward correction with the target in the area of 127.00 (50% Fibo).
The signal to cancel the option to continue the downward correction will be the growth of quotes above the high of 152.00, which will indicate the continuation of the uptrend.
Created by Joshua Hayn