FX.co ★ Forecast for USD/JPY on May 19, 2022

On Wednesday, the USD/JPY was down 116 points with the Marlin Oscillator declining on the daily timeframe. The red balance indicator line hinders the bears from advancing further, which the price has approached. But the trend remains downward, supported by stock indicators from foreign markets - yesterday the S&P 500 collapsed by 4.04%. The first target of the yen is 126.95, the second target is 125.11 – the high on March 28th.

On the four-hour chart, the price is falling below the balance and MACD indicator lines, the Marlin Oscillator has settled on the bears' territory. We are waiting for the price to move down.