Forecasts for USD/JPY on March 10, 2021


The slight pullback from the upper border of the red price channel that we expected yesterday has now taken place. The USD/JPY pair is rising in today's Asian session, but it is not completely clear whether the channel at 109.18 will be surpassed today, although there are prerequisites for this on the lower timeframe. The Marlin oscillator is growing on a daily scale, but at a noticeably slower rate than it is with the price, so the oscillator's growth has not been exhausted. The pair is aiming for 110.33, along the embedded line of the green rising price channel remains.


The small divergence according to Marlin has worked on the four-hour chart, now the signal line of the oscillator is reversing from the line separating the areas of growth and decline. We are waiting for the development of events and the 110.33 target to be reached in the coming days.


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