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Technical analysis

24.11.202318:32 Forex Analysis & Reviews: USD/JPY analysis for October 24, 2023 - Ascending triangle in creation

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Technical analysis:

Exchange Rates 24.11.2023 analysis

USD/JPY has been trading sideways at the price of 149.60 and I see potential for the breakout mode due to consolidation in creation.

In case of the upside breakout of the resistance at 149.80, I see potential for the further growth towards the level of 150.30 and 150.70

In case of the breakout of the support at 149 and hold below, I see potential for the drop towards 148 and 147.50

RSI oscillator is showing neutral reading, which is another sign of the indecision.

Petar Jacimovic
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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