Forecast for USD/JPY on January 26, 2021

USD/JPY

Yesterday, the USD/JPY pair showed uncertain growth, which was caused by the uncertain closure of US stock indices: S&P 500 0.36%, Dow Jones -0.12%. But the price settled above the MACD indicator line, while the Marlin oscillator continues to grow in the positive trend zone and in the coming days we are waiting for the price to reach the first target of 104.17 - at the trend line of the price channel. Getting the price to settle above this line opens the way to the next one with the target level of 105.40.

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The price is consolidating below the MACD indicator line on the four-hour chart, we are waiting for the quote to surpass this area. The Marlin oscillator moves horizontally in an upward trend zone. Moving above 103.88 will be a signal to continue rising to the first target of 104.17.

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The material has been provided by InstaForex Company - www.instaforex.com

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