FX.co ★ Forecast for USD/JPY on September 5, 2023

USD/JPY

Last Friday, the price made a false move below the MACD line and the support level of 144.73, which resulted in a long lower shadow. On Monday, the price continued to rise above 145.90 and stayed above this level. This morning, the USD/JPY continues to exhibit an upward movement.

The Marlin oscillator does not yet fully support the price's interest in growth, possibly luring it into a sideways trend above the 145.90 support. Nevertheless, the price can still reach the 147.68 target, formed by the embedded line of the global price channel. If the price can surpass this mark, the 148.50 target will be in play.

On the four-hour chart, the price has stayed above the balance line (red), and the Marlin oscillator is in the positive territory. An uptrend in the short-term period.