USDJPY 22 Sep 2023 on the H1 timeframe. It can be seen that this pair has experienced a significant bullish trend. Occupying a price position of 148.160 after previously being at 147.423 as a result of the bearish trend in the previous session. When referring to the stochastic indicator, the chart shows that this pair is still in the saturated zone due to overbought, it may allow a trend reversal to occur when this pair touches R1. If a trend reversal occurs, go-short positions can be an option for traders. But if this pair is able to continue to rise through R1 towards R2, then go-long is an option. Keep learning many indications before making trading decisions.
