FX.co ★ Forecast for USD/JPY on February 22, 2022

Yesterday, it closed below the red balance indicator line on the daily scale chart. Today it opened under the balance line. The last time such a pattern of closing and opening a trading session under the balance line was on February 3rd, but then the Marlin oscillator was in a growing position, and now it is in a downward position. The situation on the daily timeframe is completely bearish. We are waiting for the price on the embedded line of the price channel around the 113.33 mark.

On the four-hour chart, the price is moving down with effort, but this decline does not support the Marlin Oscillator in any way, its signal line is moving horizontally. This indicates the potential for the price to correct the weekly fall to the level of 115.07 (high on January 18).