FX.co ★ Forecast for USD/JPY on October 18, 2022

The yen continues its movement to the target level of 150.00, formed by the price channel line of the higher (monthly) timeframe. A divergence is almost formed with the Marlin Oscillator. Even if the divergence intensifies a bit, the price still has the opportunity to reach the intended target.

In general, the current technical picture tells us about the depletion of the USD/JPY pair's potential for growth.

The Marlin Oscillator could no longer withstand the growth on the four-hour chart and rolled back down. This creates a basis for the formation of a divergence, for which the price should grow a bit more.

So, the 150.00 growth target remains, the target levels of 147.38 and 145.30 are waiting.