USDJPY Daily Analysis – August 9, 2023

USDJPY is currently approaching the resistance level at 143.88. A breakout above this level could potentially lead the price towards the 145.00 area, indicating further upside potential.

On the downside, a key support level to watch is at 141.50. If there is a breakdown below this level, it could trigger another fall in the pair, potentially towards the 140.50 level.

Traders should monitor the price action and the behavior around the resistance and support levels mentioned for potential breakout or reversal signals.

In summary, USDJPY is approaching a critical resistance level at 143.88, and a breakout above this level could signal further upside towards 145.00. Conversely, a breakdown below the support level at 141.50 could lead to a potential decline towards 140.50. Traders should remain vigilant and adapt their strategies accordingly.