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02.06.202204:53 Forex Analysis & Reviews: Forecast for USD/JPY on June 2, 2022

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The USD/JPY pair rose by 149 points yesterday. Such a strong growth allowed the price to go above the target level of 129.45, above the balance indicator line of the daily scale and reach the remaining segment of the path to the 131.40 target - to the embedded line of the price channel of the monthly chart. Exit above the level opens the second target on the next line of the channel at 132.66. The probability of success is high, as the Marlin Oscillator has penetrated into the upward trend zone.

There is now a slight price retracement on the 4-hour time frame after such a strong rise. The 129.45 level is the support. The Marlin Oscillator is falling from the overbought zone, this will help it discharge, relieve stress for subsequent growth.

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