FX.co ★ Forecast for USD/JPY on March 3, 2022

The yen's march to the 113.36 target is postponed. Yesterday, with the dollar index standing still and the US stock market growing by 1.86% (S&P 500), the USD/JPY pair rose by 0.55%, having worked out the resistance of the MACD indicator line on a daily scale.

The Marlin Oscillator has moved into the positive area and now it is helping the price overcome the resistance of the MACD line. External circumstances also contribute to the pair's growth - tomorrow, in terms of employment in the US, the unemployment rate for February is expected to decrease from 4.0% to 3.9%. Stock markets, and with them the dollar against the yen, may rise. The nearest target is 116.35. This level is also a signal, surpassing it will open the way for the price to the target level of 117.20 - to the line of the price channel on a monthly scale.

On a four-hour scale, the price settled above the balance and MACD indicator lines, Marlin in the zone of a growing trend, we are waiting for the price to move up.