Forecast for USD/JPY on January 29, 2021

USD/JPY

Yesterday, the USD/JPY pair rose above the resistance of the embedded price channel line (104.18), this morning it settled above it and is now heading towards the previously indicated target along the upper line of the price channel around 105.40. The Marlin oscillator is growing.

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We can see on the four-hour chart that after the price left the area above the resistance of 104.18, the price retested it from above and continued to rise. We described such a scenario yesterday, therefore, growth will continue today.

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

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