13.03.202310:05 Forex Analysis & Reviews: USD/JPY analysis for March 13, 2023 - Potential for the bigger uspide movement

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

USD/JPY has been trading downside on Friday and I see that key Fibonacci support Agreement zone at 133.60 held this morning, which is good sign for the potential upside continuation.

Due to the strong bullish trend on longer frames and test-reject of the key Fibonacci support zone, I see potential for the further upside continuation....

Upside objectives are set at 135.80, 137 and 137.80

Stochastic and MACD oscillators are showing bullish divergence and fresh bull cross, which is good sign for the further upside movement.

Key support is set at the 133.60

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.