FX.co ★ Forecast for USD/JPY on March 10, 2022

USD/JPY continues to head to 116.35. The Marlin oscillator is growing briskly in the positive area and there are almost all conditions for overcoming the target level and further growth to 117.20. But the question is, can the pair break above this level? Uncertainty is present because in the current situation, the yen alternately changes its driver, from the dollar index to the S&P 500 index. The ECB meeting that will take place today could also change the direction of the yen.

The pair is above the indicator lines in the four-hour chart, with the Marlin oscillator growing in the bullish area. As mentioned above, the ECB meeting today could affect the direction of the pair.