USDJPY Is Going Up! Buy!

2023년 5월 12일

Please, check our technical outlook for USDJPY.

Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is testing a major horizontal structure 134.730.

The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 136.684 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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