06.09.202405:17 Forex Analysis & Reviews: Forecast for USD/JPY on September 6, 2024

Relevance up to 23:00 2024-09-06 UTC--4

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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.

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.

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.

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