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

Yesterday, the yen chose an alternative scenario for the coming days. Yesterday's decline was not due to the fall of the stock markets, as we considered this option, but with the general weakening of the US dollar, which lost 0.95%. On the daily scale chart, the signal line of the Marlin Oscillator has gone under the lower limit of its own descending channel, the zero line of the oscillator is about to be overcome. The downward momentum is set, the price will try to hit the first target at 126.95 – the low on April 27th.

On the four-hour chart, the price settled below the balance and MACD indicator lines, the Marlin Oscillator is falling in the negative area. The situation is descending, we are waiting for the price at the first target level.