USDJPY: Going for the 1D MA200. Bottom priced in.

26 set

USDJPY is neutral on its 1D technical outlook (RSI = 52.086, MACD = -0.760, ADX = 27.579) as it is recovering from the previous oversold state and is already approaching the 1D MA50. September 16th was technically the new HL on the one year Channel Up bottom, with the 1D RSI already on a bullish divergence. These are all formation we saw on its previous bottom on January 16th 2023, whose rebound that followed initially hit the 1D MA200 before going for a full yearly extension. That's our medium term target again (TP = 150.500).

See how our prior idea has worked out:

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