FX.co ★ Forecast for USD/JPY on March 11, 2022

USD/JPY reached the target level of 116.35 this morning. If it rises further, the quote could ht

117.20. However, such growth is under constant risk of a reversal from the stock market.

In the four-hour chart, the pair is above the MACD and indicator lines, but the Marlin oscillator is in no hurry to grow. Its movement is closer to a horizontal one, which is an early sign of a reversal, or a subsequent growth followed by a downward reversal.

In the hourly chart, the pair is growing in a pronounced upward channel, supported by the MACD line. The Marlin oscillator, meanwhile, is moving sideways, along zero. The movement of the pair away from the MACD line (116.04) will be a signal for a trend change.