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Technical analysis of USD/JPY 01/18/2023

The USD/JPY currency pair on (1D) found support at 127.20 as part of a downward correction and is currently trading around 128.00.

The pair managed to consolidate below the support level of 130.60 (50% Fibo), which technically means the development of a downward correction with a target in the area of 125.50 (61.8% 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

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