FX.co ★ Forecast for USD/JPY on April 11, 2023

Yesterday, the USD/JPY pair showed good growth (1.18%). This movement was enough for the Marlin oscillator to enter the positive area. Now we know that the previous efforts were not in vain. The 134.28 target is already close. The balance indicator line stopped the price from rising further.

The main task is to consolidate above 134.28 (and crossing the balance line), which will open the prospect of further growth towards the target level of 138.25. The 135.40 level acts as an intermediate resistance (support of the first week of March).

On the four-hour chart, the situation is completely upward: the price is above the balance and MACD indicator lines, the Marlin oscillator is developing a peculiar growth in the area of the uptrend.