FX.co ★ Forecast for USD/JPY on July 28, 2022

In today's Asian session, the yen is working out yesterday's correction of European currencies at the Fed meeting with all its might, which raised the rate from 1.75% to 2.50%. Strengthening of the yen at the moment is 0.85% or 115 points.

On the daily chart, there is the 134.15 target just ahead - an embedded line of the price channel of the monthly timeframe. Breaking the support will open the second target - 132.15, which is the closing level on June 16th. The Marlin Oscillator is declining with force in the downward trend zone.

The price is falling below the balance and MACD indicator lines on the four-hour chart. The Marlin Oscillator moved into the downward trend zone only two bars earlier, so there is a lot of room for a decline ahead of it. The yen's target is 134.15.