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Technical analysis

12.12.202310:06 Forex Analysis & Reviews: USD/JPY analysis for December 12, 2023 - Key support on the test

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Technical analysis:

Exchange Rates 12.12.2023 analysis

USD/JPY has been trading downside today but I see that key support at the price of 145.24 is on the test.

In case of the rejection of the support line at 145.24, there is the chance for the rally towards 146.55 and 147.30

In case of the downside breakout of the 145.24, there is the chance for the potential drop towards 143.95

RSI oscillator is showing upside range development and bounce of the 40 level, which is good sign for the higher prices.

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