FX.co ★ Forecast for USD/JPY on February 10, 2022

Over the past 24 hours, the USD/JPY pair has managed to stay above the MACD indicator line of the daily scale. This small victory gives a big upside prospect - to the target level of 117.17 - to the price channel line of the monthly timeframe. It remains for the price to consolidate above the signal level 115.53 - above the high on November 24th. The Marlin Oscillator is growing in the positive area, supporting the price in this optimistic mood.

The trend is holding up on the four-hour chart. The price is above both indicator lines, but Marlin is in no hurry to grow. On this side, the trend has a weakness, it needs to be corrected by the market, and for this, growth should be strengthened in the next half of the day, otherwise the price will be tempted to attack the support of the MACD line, around 115.20, which may fuel the bears. And the 114.79/93 range can become the first target here.