FX.co ★ Forecast for USD/JPY on January 13, 2021

USD/JPY

The USD/JPY pair failed to overcome the resistance level of the trend line on the daily scale chart, going into the expected corrective fall. The signal line of the Marlin oscillator approached the border with the territory of the bears. Perhaps, the Marlin will go up from this border indicating the completion of the correction.

Based on the four-hour chart, the Marlin oscillator went down strongly. To save the situation, the price must sharply keep up, otherwise it will get bogged down under the pressure of the slowly declining oscillator.

The price of the Kruzenshtern line will occur exactly at the Fibonacci level of 50.0%, which will create a good opportunity for the price to push off from this support and go back above the Kruzenshtern line of the daily half at 103.70. Today, the situation of the yen is not trading and we are waiting for developments.