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06.09.2024 05:17 AM
Forecast for USD/JPY on September 6, 2024

The USD/JPY pair broke through the support at 143.60 yesterday. This movement was supported by the Marlin oscillator, which settled in the downtrend territory. The target range of 139.70-140.27 is now open before the price.

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This range coincides with the embedded line of the descending price channel. In the 4-hour chart, the price consolidated below the 143.60 level. The Marlin oscillator attempts to rise and defuse before a probable downward move.

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The yen did not weaken after today's release of household spending data, which showed a 1.7% decline in July following a 0.1% increase in June. This indicates that investors are bullish on the yen. We are waiting for the US data.

Laurie Bailey,
Analytical expert of InstaForex
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