USDJPY Daily Analysis – August 2, 2023

USDJPY has continued its upward momentum, expanding from the 138.05 level to a high of 143.54.

Based on this trend, it is plausible to anticipate further upside movement in the upcoming days, with the next potential target area being around 145.00.

Immediate support can be observed at 141.95. A breakdown below this level may lead to a retracement towards the support level at 140.50.

In conclusion, the recent analysis suggests that USDJPY is still poised for further upward movement, with a potential target area at 145.00. Traders should monitor the immediate support level at 141.95 for potential retracements and subsequent price actions.