FX.co ★ Forecast for USD/JPY on February 2, 2021

USD/JPY

The USD/JPY pair increased by 24 points yesterday. In the Asian session today, it lies in the range of 104.62-105.04. With the price leaving the designated range up, further growth of the pair can be expected to the target of 105.40 - to the price channel line of the monthly time frame. The Marlin oscillator slightly is slightly turning down, which indicates the intention of the price to continue the sideways movement for about a day.

On the four-hour chart, the price and the Marlin oscillator formed a divergence. The price will probably go to the lower limit of the marked consolidation range of 104.62, after which we expect further growth.