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02.06.202306:20 Forex Analysis & Reviews: Forecast for USD/JPY on June 2, 2023

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USD/JPY

The USD/JPY pair has reached the corrective level of 138.57. Now it may reverse upwards towards 142.25 or break the support towards 136.50 - to the MACD line on the daily chart.

However, it may not reach this target as there are two intermediate levels along the way: 137.78 and 137.10. It could reverse to the upside at either of them. In addition, the Marlin oscillator has not yet left the area of the uptrend. We'll find out later on, as employment data from the United States will be published in the evening.

On the four-hour chart, the price has stalled above the level of 138.57. The indicator lines exert pressure from above. The Marlin oscillator is in the negative area but has stopped falling further. We await further developments.

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