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14.10.202113:46 Forex Analysis & Reviews: USD/JPY analysis for October 14 2021 - Potnetial for the rally towards 113.75

Technical analysis:

Exchange Rates 14.10.2021 analysis

USD/JPY has been trading downside today but I found exhaustion pattern in last few hours, which is sign for the upside continuation.

Trading recommendation:

Upside trend is still active short-term and my advice is to watch for buying opportunities on the pullbacks with the upside targets at 113,75, 114,00 and 114,60.

Stochastic is showing bull cross and oversold condition, which is another sign for the rally.

Support is set at 113,22

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert of InstaForex
© 2007-2021
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