FX.co ★ Forecast for USD/JPY on April 21, 2022

USD/JPY fell 105 points yesterday, touching the nearest embedded price channel line with a lower daily shadow. In today's Asian session the dollar is strengthening against the yen again. The price divergence with the Marlin Oscillator has slightly increased, which greatly reduces the bulls' chances to develop growth. The price will probably not exceed Tuesday's high (128.98). Price decline below yesterday's low (127.46) opens the way to advance to 125.11 - to the underlying embedded price channel line, coinciding with the March high.

The four-hour chart shows that yesterday's reversal from the price channel line coincided with the reversal of the signal line of the Marlin Oscillator from the zero line. This circumstance may delay the price in the area of current levels. We may see consolidation before the price reverses down.