FX.co ★ Forecast for USD/JPY on May 31, 2022

The USD/JPY pair has postponed attempts to further move down to the target level of 125.11 (high on March 28) after reaching the MACD indicator line of the daily scale. Now the price is breaking through the balance indicator line and ahead of it is the 129.45 target – the high on April 20. The stock market helps the currency pair in this, yesterday the S&P 500 rose by 2.47%. The 131.40 target - the line of the price channel of the monthly timeframe, will open when the price surpasses 129.45.

The price is rising above both indicator lines on the four-hour chart - the balance line and the MACD line. The Marlin Oscillator is growing in the positive area. We are waiting for the price at the first target at 129.45.