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11.01.202310:23 Forex Analysis & Reviews: USD/JPY analysis for January 12 2023 - Test and reject of the key resistance zone

Technical analysis:

Exchange Rates 11.01.2023 analysis

USD/CHF has been trading downside this morning and I think there is potential for the downside movement towards lower references.

Trading recommendation:

Due to the test and reject of resistance zone, I see potential for the downside movement towards lower references.

Watch for the potential selling opportunities on the rallies with the downside objectives at 0.9165 and 0.9100.

MACD oscillator is showing fresh downside momentum, which is sign that sellers are in control.

Key resistance is set at the price of 0.9250

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Petar Jacimovic,
Analytical expert of InstaSpot
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