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FX.co ★ USD/JPY analysis for August 09, 2022 - Breakout of the symmetrical triangle to the upside

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Forex Analysis:::2022-08-09T06:13:30

USD/JPY analysis for August 09, 2022 - Breakout of the symmetrical triangle to the upside

Technical analysis:

USD/JPY analysis for August 09, 2022 - Breakout of the symmetrical triangle to the upside

USD/JPY has been trading upside today and I see the breakout of the symmetrical triangle, which is good sign for further rally.

Trading recommendation:

Due to the breakout of the symmetrical triangle in the background, I see potential for further rally.

Watch for potential buying opportunities on the intraday dips.

Upside objectives are set at 135.53 and 137.37

Stochastic is showing bull reading with no evidence for reversal.

Key support is set at the price of 134.42

Analyst InstaForex
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