FX.co ★ Forecast for USD/JPY on May 5, 2021

USD/JPY

The daily chart shows that the price pushed off of the MACD line, while the Marlin oscillator entered the zone of positive values, so now the price is settling in the 109.26/60 level range. To maintain the rising momentum, the price needs to go above the red balance indicator line. This will happen when the price rises above the 109.60 level. This range, accordingly, is strategically important, as it opens the way to the 110.43 target.

The signal line of the Marlin oscillator is moving along the border of the growth area on the four-hour chart. The neutrality of the oscillator helps the price in settling in the indicated range of 109.26 / 60. We are waiting for it to be completed and the price to rise further.