FX.co ★ Forecast for USD/JPY on July 2, 2021

USD/JPY

The dollar continued to rise against the yen on Thursday, set on Wednesday. The quote surpassed the 111.39 target level and the next target at 112.22 was opened (a high from February, 2020).

Exit above the level opens the next target along the embedded line of the rising price channel in the area of 112.92. The emerging triple price divergence with the Marlin oscillator is most likely doomed.

On the four-hour chart, it is noticeable how the price lingered quite a bit above the 111.39 target level yesterday and then continued to rise. This is a sign that it strives to reach the next target level at 112.22. The signal line of the Marlin oscillator is turning down slightly with the price, which appears as a relief in the market ahead of the evening key US employment report.