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FX.co ★ Forecast for USD/JPY on September 4, 2024

Forecast for USD/JPY on September 4, 2024

Under pressure from external markets (S&P 500 -2.12%, oil -4.78%), the yen, as a safe-haven asset, strengthened by 1.04%, corresponding to a 144-pip drop in the USD/JPY pair. The Marlin oscillator's signal line has approached the downward trend's threshold.

Forecast for USD/JPY on September 4, 2024

If it crosses into negative territory, the pair's decline will intensify. This movement's first target is the intermediate level of 143.60. Breaking through this level would open the path to the target range of 139.70-140.27.

Forecast for USD/JPY on September 4, 2024

In the 4-hour chart, the price has settled below the MACD line, and the Marlin oscillator has consolidated in negative territory. According to the main scenario, we expect the pair's downward movement to develop.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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