FX.co ★ Forecast for USD/JPY on February 24, 2022

Yesterday, the yen spent the whole day on the horizon, settling at the 115.07 level, but it closed the day below this level, on the balance indicator line of the daily scale. Today it opened under the balance line. The Marlin Oscillator continues to move sideways below the zero line. With the highest probability, the price has already chosen the direction to the 113.33 target - to the embedded line of the price channel on a monthly time scale.

On the 4-hour chart, the price has consolidated under the target level of 115.07, but here Marlin is moving sideways above the zero line. It is likely that the price will remain for some time in a weak expectation of external events, will receive confirmation from external markets, and only then will it decide on an almost two-figure fall.