FX.co ★ Forecast for USD/JPY on April 1, 2021

USD/JPY

The USD/JPY pair consolidated above the nested line of the price channel (above 110.37) yesterday. The desire of the price to go further up is visible here, but the emerging divergence with the Marlin oscillator prevents it. As noted before, divergence can form when the price reaches the level of 111.39, and even at 112.16, if the growth is rapid. In the end, the divergence may never form.

On the four-hour chart, the price looks quite confident above the level of 110.37, even with the Marlin oscillator declining after the divergence. A positive, growing scenario allows for the completion of such a visually weak divergence and the continuation of price growth to the nearest target level of 111.39 – to the October 2018 low. Opening purchases with a reduced volume is recommended.