USDJPY – currency pair in the overbought area

24.02.2023

Four-hour chart of USD/JPY. On the chart, there is a redrawing of levels caused by changes in the volatility of the instrument. The price is in the overbought area and has tested the resistance on the weekly super trend line. This is a good reversal signal, within which we may see the price rollback to the area of the daily supertrend line or to the intermediate support level (6/8).

Recommendations: Sell 134.95 TP 133.59