FX.co ★ Forecast for USD/JPY on January 3, 2022

Starting from the third decade of December, the USD/JPY pair continues to slowly advance to the target range of 115.80-116.15. This morning the price has overcome the peaks of December, the Marlin Oscillator is growing at a moderate rate, maintaining the prospect for higher growth.

On the four-hour chart, the signal line of the Marlin Oscillator made a false move under the border of the negative territory (marked with an arrow) and quickly returned to the growth zone. This pattern is a sign of further development of the oscillator and the price moving upward.

To break the main trend, the price will need to consolidate below the MACD line (114.90), in this case, the price will try to deepen the correction to the daily MACD line (114.50). Overcoming the latter will open the 113.25 target.