USD/JPY has been moving in a very tricky way over the past week, with several false swings in both directions. The latest was a sharp but fake drop below the 146.29 support level, shown by Wednesday’s long lower shadow.
At this stage, the pair is aiming to break and hold above the daily MACD line at 148.28. If it succeeds, the path opens toward the first target at 149.38, with a further chance to climb into the 151.70–152.10 range. The Marlin oscillator has already moved into bullish territory, which supports this main upward scenario.
Looking at the four-hour chart, the Marlin oscillator is moving sideways, hinting at consolidation just below 148.28 before the next breakout attempt. The key lower boundary for this short-term consolidation sits near the MACD line around 147.44.
