Yesterday, the USD/JPY pair decisively broke through the wide support range of 145.08/91 and reached the target level of 143.45 during today's Pacific session.
The Marlin oscillator has only recently begun moving deeper into bearish territory, but it has enough momentum to push the price down to the target level of 139.59 (the low from September 16, 2024) and possibly even further—to 137.92, which corresponds to the March 2023 high.
The price is confidently declining below both indicator lines on the four-hour chart, supported by the sharply falling Marlin oscillator.
A firm move below 143.45 would signal a continuation of the downtrend. A return above this level could initiate consolidation before a renewed attempt to break support.
