FX.co ★ Forecast for USD/JPY on July 14, 2022

The dollar continues its attack against the Japanese yen. In today's Asian session, the price has consolidated above the next embedded line of the rising price channel of the monthly timeframe and is now challenging the next resistance at 138.65. With surpassing the level, further growth to the 140.65 target level is likely.

The price could continue to rise above this target, as the signal line of the Marlin Oscillator goes up from its own wedge. However, there is a possibility that the wedge will be re-formed into some kind of horizontal structure, which will subsequently have a negative impact on the price growth. But while the momentum is growing.

The price is growing with the support of all indicators on the H4 chart. Price indicators are turned up and growing, the oscillator is moving up in the positive trend zone.