Technical analysis of USD/JPY 11/18/2022

The USD/JPY currency pair on the (1D) chart shows a downward correction within an uptrend. The price found resistance at 152.00 and is currently consolidating around 140.00.

The technical picture suggests the development of a downward correction with the nearest target in the area of ​​133.00 (38.2% Fibo), (MA200), as well as a possible continuation of the decline in the area of ​​127.30 (50% Fibo) in the longer term.

Breaking through the level of 140.30 (23.6% Fibo), (MA100), as well as a divergence on the RSI indicator, are signals in favor of the development of a downward correction.

The signal to cancel the development of the downward correction will be the growth of quotes above the high of 152.00, which will indicate the continuation of the uptrend.

USDJPY_STPDaily

Created by Joshua Hayn

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