FX.co ★ Forecast for USD/JPY on September 5, 2022

The dollar continues to grow against the Japanese yen, but the reversal signs of the indicators are already stronger. On the daily chart, this is a reversal of the Marlin Oscillator. The price has not yet reached the target level of 141.00 along the line of the price channel of the higher timeframe.

The pair still has the strength to work out this level, after which the price may move into a medium-term correction. The target of the correction may be the area of the embedded line of the price channel at 137.90. Consolidating under the MACD line will complicate the type of the expected correction, perhaps it will be a long flat.

The price is growing above the balance and MACD indicator lines on the four-hour scale, the Marlin Oscillator is developing sideways. A small upside potential remains, after it dries up, the price is likely to decline. First target at 139.10.