FX.co ★ Forecast for USD/JPY on December 22, 2020

USD/JPY

The Japanese yen did not escape increased market volatility yesterday. However, the price fluctuations were still smaller than those of European currencies. The upper daily shadow of USD / JPY was 60 pips. The price could not overcome the indicator line of the daily scale balance. A price decline below the level of 103.18 opens the target of 102.35. An alternative scenario assumes an increase to the MACD line in the area of 103.98.

The price on the four-hour scale was unable to gain a foothold above the MACD line, which indicates the false nature of yesterday's upward movement. Accordingly, the declining mood remains a priority. Fixing the price below 103.18 will also lead to the transition of the Marlin oscillator to the zone of a declining trend. The signal will increase, and the target 102.35 will become tangible.