Technical analysis of USD/JPY 06/16/2022

The USD/JPY currency pair is trading in an uptrend. The price found resistance at 135.50, after which it started a correction and is currently at 132.00.

The technical picture suggests the development of a downward correction to the level of 131.00 (50% Fibo), (MA100) on the (4H) chart.

The signal to cancel the development of the downward movement within the framework of the correction will be the growth of the pair above the high of 135.50.

USDJPY_STPH4

Created by Joshua Hayn

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