FX.co ★ Forecast for USD/JPY on December 23, 2022

Yesterday, the yen was calm, its slow growth (growth of the USD/JPY pair which means that the dollar rose) did not face any resistance, so this morning it continues to gradually rise. The price is facing the 133.35 target, the nearest internal resistance line in the price hyperchannel of the monthly chart.

The Marlin oscillator can grow without interruptions until it touches the zero line. From 133.35, a synchronous reversal of the price and the oscillator downwards, to the target of 130.58.

Yesterday, the U.S. stock index S&P 500 fell by 1.45%, and if the yen, with the Bank of Japan's help, will push for its role as a safe haven, then the pair could fall further to support around 127.00.

On the four-hour chart, the Marlin oscillator has already reached the zero line. But the price can still reach 133.35. The main movement is likely to occur after the Christmas holidays.