Weekly Technical Analysis Report 16 February – Bullish outlook seen on USDJPY
February 16, 2023
Weekly Technical Analysis Report 16 February – Bullish outlook seen on USDJPY
1. This week’s outlook on USDJPY: Bullish outlook seen
Prices have broken through a resistance-turned-support zone at 132.80 on the H1 timeframe. A throwback to this level, which is in line with the 50% Fibonacci retracement, could provide the bullish acceleration to the next resistance zone at 134.50. Prices are lying above the Ichimoku Cloud, while Stochastic RSI is in the oversold region below 20, supporting our bullish bias.
Bullish outlook on USDJPY – 16 February 2023 by Salzworth on TradingView.com
