FX.co ★ Outlook for USD/JPY on October 11, 2021

The dollar/yen pair continues rising.

On Friday, the US dollar rose by 59 pips against the Japanese yen to reach the level of 112.22. Today, the price continues moving up following risky sentiment of the stock market. Thus, Nikkei225 added 1.61% and China A50 advanced by 1.51%. Today is the last day when Evergande may repay its debt. Investors are expecting a positive outcome.

From the technical point of view, there is a possibility of the price divergence with the Marlin oscillator. That is why the pair will hardly reach the target of 113.10. It is likely to reverse and drop in the mid term. The target is located at 110.68.

On the four-hour chart, the price is climbing without any signal of a reversal.

Only on the one-hour chart, the Marlin oscillator is returning from the overbought area.