FX.co ★ Forecast for USD/JPY on September 27, 2023

USD/JPY

Yesterday, the USD/JPY pair edged up but stayed above the level of 148.50. The 150.00 target remains relevant. In addition, the signal line of the Marlin oscillator is breaking above the upper band of its own descending channel while remaining in the positive territory.

The price will likely reach the target by Monday, when we find out the outcome of the US Congress dispute on the budget. On the 4-hour chart, the price is steadily rising above the indicator and ascending lines of balance and MACD. However, the Marlin oscillator has been trading in a horizontal range for a while, creating a risk of a downturn.

The coming days will reveal whether the cumulative circumstances will make it possible for the pair to reach the target level of 150.00.