22.11.2022 11:14 AMTechnical analysis:
USD/JPY has been trading downside this morning and I see potential for the further downside movement towards lower references.
Trading recommendation:
Due to the strong downside pressure in the background and rejection of the important 142 level, I see potential for further drop.
Watch for the potential selling opportunities with the downside objectives at 137.80 and 133.70.
Stochastic oscillator is showing fresh downside break and overbought condition, which is good sign for further downside movement.
Resistance is set at the price of 142
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