FX.co ★ Forecast for USD/JPY on March 16, 2022

USD/JPY yesterday took a breather after a strong growth of the last days, the growth was 12 points. Today, the Federal Reserve is expected to raise the rate by a quarter of a point, and the dollar may soon reach the target of 110.53/90 - in the range of adjacent lines of the price channel on the monthly chart. After that, we are waiting for a reversal, a deep drop in price due to the fall of the stock market. Then the Marlin oscillator, which is already in the overbought zone, will collapse.

The situation develops in a standard way on the four-hour chart - the Marlin Oscillator discharges from the overbought zone, in order to then have the opportunity to grow along with the continuing rise in price.