18.09.202404:47 Forex Analysis & Reviews: Forecast for USD/JPY on September 18, 2024

Relevance up to 22:00 2024-09-18 UTC--4

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On the day of the Federal Reserve's rate decision, the yen finds itself relatively neutral after working out the target support at 139.70–140.27. Over the past two weeks, the Marlin has formed a range with its central line along the trend line.

There is a risk of this range expanding approximately to the limits of the green rectangle. This could indicate that the upper boundary of the price channel may be breached, with price fluctuations occurring between the levels of 137.26 and 143.60. A sustained downward movement is possible if panic returns to the stock market. There are signs of this, such as the rising pace of bankruptcies in the U.S.

On the 4-hour chart, the price is breaking below the MACD line, and the Marlin oscillator is approaching the zero line. A downward spike is likely to expand the price range.

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