FX.co ★ Forecast for USD/JPY on September 23, 2022

Yesterday, the yen was traded in the range of 550 points, significantly puncturing both resistance and support levels. The volume of daytime trading was a record for the year and it seems that all the nervous growth of the last two weeks has ended.

The Marlin Oscillator approached the border with the territory of the declining trend, ready to attack it synchronously with the price that is assigned to the support of 141.25. Overcoming the support opens the next one with a target of 139.30.

On a four-hour scale, the price is firmly retained under the balance indicator line (red), and the Marlin Oscillator is also declining in the negative area. We are waiting for the price to overcome the nearest support of 141.25 and its further decline to the target level of 139.30.