FX.co ★ Forecast for USD/JPY on June 15, 2022

The USD/JPY pair reached the first resistance along the embedded price channel line (135.59) and stopped there. Now the price can develop further growth. The daily Marlin Oscillator is turning down, but it is still not in the overbought zone, so there is every chance that the dollar will reach the next target of 137.20.

On the H4 chart, there is a uniform upward trend. At the moment, the Marlin Oscillator has returned to the growing trend zone, the price is developing above the balance (red) and MACD (blue) indicator lines .

The realization of the upward potential is possible after the price exits the area above the embedded line of the price channel of the daily chart, which corresponds to the top of the Pacific session at 135.59. This plan can be broken if the price goes below the MACD indicator line (133.80), which coincides with the linear support on the daily chart. In this case, the decline may continue until the next price channel line in the area of 131.40.