Technical analysis of USD/JPY 05/26/2023
The USD/JPY currency pair on (1D) shows an upward correction. The pair is trading in an ascending channel.
The price has broken through the resistance area of 137.80 (MA200) and is currently consolidating around 140.00.
The technical picture suggests the prospect of continued growth to the level of 145.00.
Cancellation of the option for the development of an upward movement will be the pair’s decline below the low of 127.20, which will mean a continuation of the downward movement with a target in the 125.50 area.
Created by Joshua Hayn