FX.co ★ Forecast for USD/JPY on April 5, 2022

The USD/JPY did not stay long at last Friday's close. The Marlin Oscillator has started to decline and thus lowers the probability of forming a triangle and increases the probability of working out the target range of 119.54/97. More than this corrective thesis, the current situation on the daily chart does not yield.

The price shows intent to turn down on the 4-hour chart, the Marlin Oscillator is in no hurry to get ahead of events, although it should by its nature of a leading indicator. But if this is not the case, then the turning point can be misleading. The exit of the price above the March 30 high at 123.21, coinciding with the MACD line, will confirm the price's intention to continue rising. The confirming level for the downward trend is the March 31 low at 121.29.