FX.co ★ Forecast for USD/JPY on February 18, 2022

Yesterday, the stock market fell more than we expected: S&P 500 -2.12%, Nasdaq -2.88%, Euro Stoxx 50 -0.58%. This morning the Nikkei 225 is losing 0.53%, China A50 -0.35%. The dollar fell by 54 points against the yen yesterday. On the technical side, the prospect of a medium-term decline in the USD/JPY pair received reinforcement: on a daily scale, after the formation of a price divergence with the Marlin Oscillator, the signal line of the oscillator penetrated into the downward trend zone, the price settled under the MACD line, attacking the red balance line. The pair's target at 113.33 is the embedded line of the price channel of the monthly timeframe.

The price is in a completely downward trend on the 4-hour chart. The price is developing below the indicator lines, the Marlin Oscillator is also developing in the downward trend zone.