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25.05.202204:46 Forex Analysis & Reviews: Forecast for USD/JPY on May 25, 2022

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Yesterday the yen strengthened by 0.76%, breaking the target level of 126.95 and almost touching the MACD line. At the moment, the price is between the balance (red) and MACD (blue) indicator lines. The Marlin Oscillator is showing the earliest and weakest sign of a reversal. Consolidating above 126.95 may resume growth, but during the technically difficult period, a fairly strong level of 129.45 formed from the first days of May, so moving towards 131.40, the price channel line of the monthly timeframe, is difficult for the yen. Consolidating above 129.45 will open the target at 131.40.

On a four-hour scale, the price formed a double convergence with the Marlin Oscillator. The first task after settling above 126.95 will be to overcome the MACD line in the area of 127.92.

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