FX.co ★ Forecast for USD/JPY on June 14, 2023

USD/JPY:

The dollar has approached an important resistance level at 140.35. Overcoming this level naturally opens up the target at 142.30. The Marlin oscillator is staying in the positive territory but appears weak.

The pair is likely in a waiting mode ahead of the Federal Reserve's interest rate decision. If the price falls below the support range of 138.60-140.35 due to the impact of this decision, it could find support at the MACD line at 137.55.

On the four-hour chart, the price has moved above the MACD indicator line, and Marlin is progressing in the area of the uptrend. The current situation favors growth, but the market will make its final decision based on the Fed's announcement and the press conference of Fed Chairman Jerome Powell.