FX.co ★ USD/JPY analysis for May 22, 2023 - Hidden bearish divergence and potential for the downside movement

Technical analysis:

USD/JPY has been trading upside downside on Friday and I see rally this morning and potential for the downside continuation,

Due to the breakout of the rising trend-line in the background and hidden bearish divergence this morning, I see potential for the downside continuation.

Downside objectives are set at 136.60 and 135.75

RSI oscillator is showing hidden bearish divergence, which is very good sign for the further downside movement towards lower references.

Key resistance level is set at the price of 138.65