The USD/JPY pair is showing signs of a potential bullish reversal after bouncing off resistance at the daily MACD line earlier this week. Following Monday’s rejection, the price slipped below the balance indicator line, but momentum has since begun to shift. The Marlin oscillator, which was drifting near the boundary of the declining trend zone, is now turning upward, hinting at strengthening bullish sentiment. A break above yesterday’s high at 147.93 would also place the price above the balance line, opening the way toward the daily MACD resistance at 148.68. If this barrier gives way, the next upside target lies at 149.38, marking a key resistance zone.
On the four-hour chart, bearish pressure remains limited, as the price has not yet consolidated below the indicator lines. The Marlin oscillator also failed to establish itself in the bearish zone, reinforcing the outlook for continued upward movement. For bears to regain control, the pair would need to settle below the MACD line at 147.43. As long as this level holds, the upward reversal scenario remains intact.
