FX.co ★ Forecast for USD/JPY on September 30, 2021

USD/JPY

Yesterday, the Japanese yen weakened under the general pressure of the US dollar. The dollar gained 48 points against the Japanese currency, crossed the first target level of 111.67, represented by the peak on July 2, and is slightly falling this morning, probably rallying for another push to the target level of 112.22 - to the high of February 2020. Consolidating above the level will allow the price to rise even more, to the embedded line of the price channel in the region of 113.07.

A reversal from the current levels is forming on the 4-hour scale, which is indicated by price divergence with the Marlin oscillator. Consolidating below the level of 111.67 may lead the price to the level of 110.67 - to the MACD line and with it to the July 14 high of the current year.