31.05.202309:58 Forex Analysis & Reviews: Analysis of USD/JPY for May 31, 2023 - Rerversal down day and potential for downside movement

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Technical analysis:

USD/JPY has been trading downside yesterday and I found the reversal down day at the key resistance at the price of 141.00.

Due to the extended run condition and reversal day from yesterday, I see potential for the downside movement towards downside reference.

Downside objective is set at the price of 138.00

MACD oscillator is showing decreasing in the upside momentum, which is good sign for the further downside movement.

Resistance is set at the price of 141.00

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