FX.co ★ Forecast for USD/JPY on February 13, 2023

On Friday, the USD/JPY pair reached the support of the embedded global channel line at 130.05. Then there was a rebound to the resistance of the MACD indicator line, which the price is trying to overcome this morning.

The signal line of the Marlin oscillator, which is in sideways movement, can perform the function of consolidation; afterwards, the price will probably continue to rise. The bullish target is the next embedded price channel line near the 133.77 mark.

On the four-hour chart, the price has settled above the balance and MACD indicator lines, the Marlin oscillator starts to rise in the area of the uptrend. I expect the uptrend to persist.