FX.co ★ Forecast for USD/JPY on April 14, 2022

The yen has fully reached the target range defined by two adjacent green price channel lines of the weekly timeframe. Today the price started with an intensified decline, it is trying to overcome the support of the lower line of the price channel (125.08) in order to settle below it and go to reach the target range of 119.57-120.00. The price divergence with the Marlin Oscillator has formed.

On the H4 chart, the Marlin Oscillator is moving into the downside area. To consolidate the trend, the price should go under the MACD line, below 124.80.