FX.co ★ Forecast for USD/JPY on March 23, 2022

Yesterday, the yen became the leader of the currency market - weakening (growth on the chart) amounted to 1.14%. The price is seriously going to reach the target level of 121.70. The Marlin Oscillator is in the overbought zone on the daily, making the first attempt to reverse, the price may have serious difficulties in overcoming the target level, the reversal is close.

There is the first sign of a weak divergence forming on the four-hour chart. For such a strong rise in price in the last two weeks, a weak divergence may be enough for a reversal, it remains only to wait for its confirmation.