Forecast for USD/JPY on January 27, 2021

USD/JPY

On Tuesday, the Yen slightly strengthened and in today's Asian session, it had completely regained its strength. All these occur above the Kruzenshtern indicator line when the Marlin oscillator signal line is held in a growing position; though the Marlin itself has not left the growth zone since January 7. The pair's mood is growing so we are waiting for it to overcome the nearest resistance of the price channel line in the area of 104.16, then further growth of the Dollar to the next (parallel) line of the price channel in the area of 105.40.

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On a four-hour scale, the Marlin Oscillator turns up from the border of trends, rising and descending, which indicates the intention of the price to overcome the Kruzenshtern line around the 103.87 mark. After this, the target opens on the daily scale chart at 104.16.

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

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